Wall Street adopts 24/7 trading model to compete with crypto

Traditional financial markets are moving toward an “always-on” model to compete with the 24/7 trading nature of the cryptocurrency market. Following SEC approval, Nasdaq is set to extend U.S. equity trading hours to 23 hours a day, five days a week, starting December 6. The extended session will run from 9 p.m. to 4 a.m. ET. The NYSE is also planning similar extensions.

This shift is driven by changing investor behavior. Data indicates that weekend trading volume for traditional perpetual futures on crypto exchanges has surged sixfold to $28 billion, with Binance accounting for nearly half of that volume. This suggests traders are increasingly using crypto markets to gain continuous exposure to traditional assets. Nasdaq President Tal Cohen noted that retail investors, accustomed to the constant availability of crypto, are driving the demand for expanded pre-market and after-hours equity trading.