Nasdaq to Launch 23-Hour U.S. Stock Trading, Traditional Markets Face Off Against Tokenized Stocks Nasdaq plans to extend U.S. stock trading hours to 23 hours a day, 5 days a week, starting December 6, leaving only 1 hour for system maintenance. The new schedule will be divided into two trading sessions: daytime trading from 4:00 AM to 8:00 PM ET, and nighttime trading from 9:00 PM to 4:00 AM ET the following day. This reform is also seen as a move by the traditional U.S. stock market to counter tokenized stocks. With Nasdaq extending its trading hours, the time advantage of tokenized stocks will be diminished. In the future, the competition between the two may shift focus to shareholder rights, dividends, voting power, and settlement efficiency, rather than just "who can trade 24/7.