Tokenized stocks trade all weekend. Most of Monday's move still arrives overnight
Thirteen weekends, six issuers and 132 stocks, priced hour by hour against the Monday open.
- 10%
- 56%
- 85%
- 19%
- $1,900
01 · What a weekend buyer seesStocks that trade on a Sunday
US stock exchanges close at 4pm on Friday and open again at 9:30am on Monday. Tokens that track shares such as Nvidia and Tesla keep trading all weekend.
If news breaks on a Saturday, a weekend buyer can act on it straight away, so the weekend price should hint at where the stock will open. We checked 13 weekends of trading in these tokens, from six issuers, against each stock's Monday opening price.
By 6pm on Sunday, New York time, the typical token had moved only 10% of the way there. If a stock opened 2% higher on Monday, its token had typically risen about 0.2% by Sunday evening. Most of the move came overnight, once other markets reopened on Sunday evening, and by 9am on Monday the tokens had covered 85% of it.
02 · What these tokens areA share in custody, a token on a blockchain
A tokenized stock is a token that tracks one company's share. The firm that issues it says it holds the real share in custody. We covered six issuers: Robinhood, Binance, Coinbase, xStocks, Ondo and Backpack. They trade on DEXs, pools of tokens and dollars on a blockchain whose price moves with each trade.
On a weekday, traders keep each token close to its share. When the token is cheap they buy it and sell the share, and the gap closes. On a weekend the share cannot be traded, so nothing ties the token to it until a market that trades the stock reopens.
Bitquery indexes DEX trades on Base, BNB Chain, Ethereum, Solana and Robinhood's own blockchain, so we could price every token hour by hour through each weekend.
03 · The testFriday's close, Sunday at 6pm, Monday's open
For each stock and weekend we took three prices: the token's price in the last hour of Friday's market and in the hour before 6pm on Sunday, and the stock's opening price on Monday. Sunday at 6pm is when US stock futures, contracts on the S&P 500 and Nasdaq indexes, start trading again. After that, weekend prices could simply copy them.
Nvidia's token on Robinhood's blockchain over the last weekend of September shows the pattern. It barely moved from Friday to Sunday night. Nvidia opened 2.1% higher on Monday, and the token rose in the hours before the open.
04 · The weekend resultTen percent of Monday's move
Across all 13 weekends, the typical token had moved 10% of the way to Monday's open by 6pm on Sunday. It pointed the right way 56% of the time. A coin toss would manage 50%, and when we paired each weekend move with the opening from a different weekend, the score was 46%.
Taking out the whole market's move, so that only news about each company counts, leaves the result about where it was.
We left out stocks whose value rides on coins that trade all weekend, such as Strategy and Coinbase, because their tokens can follow bitcoin. For those stocks the typical figure was 26%, but it swung too much from weekend to weekend to say more.
05 · When tokens catch upMonday's move arrives overnight
The catch-up starts when other markets reopen. Stock futures start trading at 6pm on Sunday, New York time, according to CME Group. Robinhood's 24 Hour Market for overnight stock trading opens at 8pm.
From 10% at 6pm, the typical token's share of Monday's move climbed to 85% by 9am on Monday, half an hour before the open.
Every issuer with enough data shows the same shape. Binance's tokens did best over the weekend, yet still covered under 20% of the move by Sunday evening. Robinhood's, the largest group in our sample, covered 4%. By 9am all five were above three quarters.
06 · Weekend by weekendOne weekend in twelve
Only one weekend stands out. On the weekend of 24 July the typical token had covered most of Monday's move by Sunday evening. In four of the other eleven, tokens pointed the wrong way on balance.
07 · When weekend pools breakA gold token at $1,900
Weekend prices can also run away from the stock. In 10 cases a token rose more than 10% by Sunday evening while its stock moved less than 3% by Monday's open. Every one of them was a rise. Of the 9 that still traded on Monday morning, 7 had given back almost all of it by 9am.
The largest was Robinhood's token for the SPDR Gold Shares fund, over the last weekend of August. It traded at $411 in Friday's last market hour and reached $1,900 on Sunday. It fell back in the hour after 8pm on Sunday, when Robinhood's 24 Hour Market opens. The fund itself opened 0.3% lower on Monday.
Nothing on the chain says why the price ran. A thin pool can be pushed a long way when the traders who usually sell into it cannot hedge.
08 · What it meansA price that waits for Monday
A tokenized stock's weekend price says little about where the stock will open. By Sunday evening the typical one had moved 10% of the way, and its direction was close to a coin toss. Prices find Monday's level once futures and overnight markets reopen, and they are mostly there before the opening bell.
09 · How we checkedMethod
We built each issuer's list from the chain, matched each entry to its stock by symbol and checked its Friday price against the stock. From our trade data we took the dollar-weighted median price of stablecoin trades in each one-hour window, for 13 weekends from 10 July to 2 October 2026. Monday opening prices come from exchange data. We left out stocks that went ex-dividend or split on the Monday, and any listing with less than $10,000 traded over the weekend. These rules and the 6pm Sunday cutoff were fixed before we looked at a single price.
The same queries can be run with the Bitquery MCP. Earlier pieces cover who trades Coinbase's tokenized stocks and how small most stock-token trades are.
10 · The recordTokens and trades behind this story
| What | Address or transaction |
|---|---|
| Robinhood Nvidia token (Robinhood Chain) | 0xd060…9eec |
| Robinhood gold fund token, GLD (Robinhood Chain) | 0xc9a9…fc4e |
| GLD token trade at $1,897, Sunday 30 Aug, 11:19am ET | 0x404a…265b |
| USDG, the dollar token these trades used (Robinhood Chain) | 0x5fc5…d168 |
| Binance Nvidia token (BNB Chain) | 0x02fc…7436 |
| Coinbase Nvidia token (Base) | 0xb200…108c |
| xStocks Nvidia token (Solana) | Xsc9qv…9qEh |
FAQ
Can you trade stocks on the weekend?
Not on US stock exchanges, which close from 4pm Friday to 9:30am Monday, New York time. Tokens that track stocks, from issuers such as Robinhood, Binance and Coinbase, trade on blockchains all weekend where the issuer allows it.
Do weekend token prices predict Monday's open?
Not well. By 6pm on Sunday the typical token had moved 10% of the way to Monday's opening price and pointed the right way 56% of the time.
When do stock futures open on Sunday?
At 6pm New York time, according to CME Group. Tokenized stocks caught up with Monday's move mostly after that, overnight and in the hours before the open.
Which issuer's tokens tracked the weekend best?
Binance's, at 19% of Monday's move by Sunday evening. All five issuers with enough data were above three quarters by 9am on Monday.
Why did a gold token jump to $1,900?
Robinhood's gold fund token traded up from $411 to $1,900 on its blockchain over the last weekend of August, while the fund itself barely moved. It fell back on Sunday night. The chain records the trades and gives no reason for them.
Weekends run from Friday 10 July to Friday 2 October 2026, with each stock's next opening price. Binance and Robinhood cover all 13 weekends, Coinbase's from mid-August, and xStocks, Ondo and Backpack the last four, the span our 30-day trade table holds.
Prices are dollar-weighted medians of stablecoin trades in one-hour windows. A listing counts only if it traded in the hour before each cutoff and did at least $10,000 over the weekend. One value per stock per weekend, weighted by each issuer's weekend dollars.
The main measure is the median, across stock-weekends where the stock moved at least 0.5% by Monday's open, of the token's move divided by the stock's move. We first measured with a least-squares average, which a few broken weekend pools dominated; on that measure the figure was 23%.
Stocks whose value rides on coins that trade all weekend (crypto treasuries, crypto exchanges, bitcoin miners, stablecoin issuers) are reported separately; the list was fixed before any price was read.
Each checkpoint in the hourly timeline uses every stock-weekend with a token price in that hour. On the 519 priced at every checkpoint the figures are 7%, 16%, 53% and 85%. Monday opening prices come from exchange daily data; the 5 October opening is the first five-minute price.
This article is provided for informational and educational purposes only and reflects analysis of publicly available on-chain data as of the dates indicated. It does not constitute legal, financial, compliance, or investment advice, and nothing in it is a recommendation to buy, sell, or hold any token or asset.
The findings describe trades observed on public blockchains between 10 July and 5 October 2026. They may be incomplete or incorrect and may be revised as more data becomes available.
References to Robinhood, Binance, Coinbase, xStocks, Ondo, Backpack, CME Group or any other named company describe what the public record shows about tokens and trades. They are not statements about any party's compliance, solvency or conduct.
Nothing herein should be relied upon as a definitive determination of fact. Readers should conduct their own independent verification before taking any action. The authors and publisher accept no liability for any loss or damage arising from reliance on this material. All trademarks and company names are the property of their respective owners.
Reported by Gaurav Agarwal for Bitquery Research, with AI tools; every figure was checked against the raw data.
Ask these questions in plain English
The trades in this story come from Bitquery's DEX data across six blockchains. The Bitquery MCP server puts that data behind an AI assistant, so you can ask where a token traded at any hour, or how far it drifted from its stock, without writing the query yourself.