The Race for Round-the-Clock Trading: Robinhood's Tokenization Bet vs. Nasdaq's Traditional Extension
Introduction to the 24/7 Trading Push
In an era where global investors demand instant access to markets, major players in the financial world are racing to extend trading hours beyond the traditional 9:30 a.m. to 4 p.m. ET window. This push is driven by surging foreign holdings of U.S. equities, which hit $17 trillion last year, and the growing appetite for nonstop trading in a 24/7 digital economy. Two standout initiatives highlight this trend: Nasdaq's proposal for 23-hour weekday trading and Robinhood Markets Inc. (HOOD)'s innovative use of tokenization to enable true 24/7 markets. As of December 21, 2025, Nasdaq has filed paperwork with the SEC to implement its plan, while Robinhood is already rolling out tokenized assets in Europe and hinting at broader U.S. applications. This article explores both strategies, compares their approaches, and assesses who might emerge victorious in reshaping how Americans trade stocks.
Key Takeaways
- Nasdaq's Proposal: Aims for 23-hour weekday trading (4:00 a.m. to 3:00 a.m. ET next day), extending current sessions to meet global demand, with SEC filing on December 15, 2025, focusing on institutional liquidity.
- Robinhood's Tokenization: Uses blockchain for 24/5 (potentially 24/7) access via tokenized U.S. stocks and ETFs in Europe, adding 500 tokens on December 19, 2025, appealing to retail with low fees and crypto integration.
- Comparative Advantages: Nasdaq offers scale and regulatory ease for institutions; Robinhood provides innovation and weekend potential for retail, but faces U.S. crypto hurdles.
- Investment Angle: HOOD (at $122) shows growth potential with Moderate Buy ratings, while NDAQ (at $96) provides stability; AI favors HOOD for long-term upside in fintech disruption.
- Market Impact: Coexistence likely, with Nasdaq dominating volume and Robinhood capturing younger traders, though both risk increased volatility and trader fatigue.
Nasdaq's Push for 23-Hour Weekday Trading
Nasdaq, home to tech giants like Nvidia, Apple, and Amazon, submitted its proposal to the U.S. Securities and Exchange Commission (SEC) on December 15, 2025, aiming to extend equities trading to 23 hours a day, five days a week. Under the plan, trading would run from 4:00 a.m. ET to nearly the following day, with a brief one-hour break, effectively creating a "day session" from 4:00 a.m. to 8:00 p.m. ET and an additional overnight session from 9:00 p.m. to 4:00 a.m. This builds on existing pre-market (4:00 a.m. to 9:30 a.m.) and after-hours (4:00 p.m. to 8:00 p.m.) sessions but integrates them into a near-continuous framework.
The motivation is clear: Investor demand for extended hours has exploded, fueled by international traders in Asia and Europe who want to react to news without waiting for U.S. markets to open. Nasdaq's filing follows similar moves by competitors, including the New York Stock Exchange (NYSE), which recently received accelerated SEC approval to extend hours. However, critics like Wells Fargo analysts have called it "the worst thing in the world," citing potential burnout for traders and increased volatility during low-liquidity periods. Nasdaq argues that the U.S. stock market's dominance—representing two-thirds of global listed company value—necessitates this evolution to stay competitive.
This traditional exchange model relies on established infrastructure with clearing systems and regulatory oversight, but it stops short of full 24/7 access, excluding weekends and maintaining a weekday focus.
Robinhood's Tokenization Strategy for 24/7 Trading
In contrast, Robinhood is leveraging blockchain technology to pioneer tokenized trading, which could unlock genuine 24/7 access without the constraints of traditional exchanges. As early as June 2025, Robinhood launched "stock tokens" for over 200 U.S. names and ETFs, including Nvidia and Microsoft, built on a Layer 2 blockchain optimized for tokenized real-world assets (RWAs). By November 2025, CEO Vlad Tenev emphasized that tokenization would "unlock 24/7 markets" and disrupt traditional finance (TradFi).
Robinhood's approach is already live in Europe, where users can trade tokenized U.S. stocks 24 hours a day, five days a week (24/5) via the Arbitrum blockchain. Just this week, on December 19, 2025, the platform added 500 new tokenized stocks overnight, bringing the total to nearly 2,000 assets. This includes high-profile names like OpenAI and SpaceX shares, tokenized for seamless trading. The company is developing its own blockchain to support perpetual futures, staking, and RWAs, with compatibility features like Arbitrum Stylus for faster, cheaper transactions.
In the U.S., Robinhood already offers extended-hours trading (from 4:00 a.m. to 8:00 p.m. ET), but tokenization could extend this to full 24/7, including weekends, by representing stocks as digital tokens on a blockchain. This hybrid crypto-stock model appeals to retail investors familiar with cryptocurrencies, where 24/7 trading is the norm. However, it involves additional risks, such as blockchain vulnerabilities and the fact that tokenized assets are often derivatives rather than direct stock ownership.
Comparing the Two Approaches: Tradition vs. Innovation
At their core, both plans address the same demand for extended access, but they diverge in execution and scope: Hours and Availability: Nasdaq's 23/5 model is weekday-only, with a one-hour daily break for maintenance, sticking to centralized exchange operations. Robinhood's tokenization enables 24/5 (and potentially 24/7) trading, including after-hours and weekends, by decentralizing assets on blockchain networks like Arbitrum. Technology and Infrastructure: Nasdaq relies on legacy systems with incremental extensions, ensuring high liquidity and regulatory compliance but potentially limiting speed and cost efficiency. Robinhood's blockchain-based tokenization offers lower fees, instant settlements, and global accessibility, but it faces hurdles like SEC scrutiny over crypto integrations and potential smart contract risks. Target Audience: Nasdaq caters to institutional investors and high-volume traders who prioritize stability and volume. Robinhood targets retail users, especially millennials and Gen Z, with user-friendly apps and crypto crossovers. Regulatory Path: Nasdaq's SEC filing is straightforward, building on approved NYSE precedents. Robinhood's tokenization, while operational in the EU, may encounter U.S. resistance due to ongoing crypto regulations, though its "permissionless assets" vision aims to bypass some TradFi barriers. In essence, Nasdaq is evolving the old guard, while Robinhood is building a new paradigm blending stocks and crypto.
Who Wins? A Split Victory in a Fragmented Market
Predicting a clear winner is tricky, as "winning" depends on metrics like user adoption, trading volume, and profitability. Nasdaq likely holds the edge in the short term: As a major exchange, it can capture massive institutional flows once approved, potentially handling trillions in daily volume during extended hours. Its plan aligns with broader exchange trends, and with NYSE already moving forward, Nasdaq risks losing ground if it doesn't follow suit.
However, Robinhood could dominate the long game among retail investors. Tokenization not only enables fuller 24/7 access but also integrates with emerging DeFi ecosystems, attracting a younger, tech-savvy demographic. If Robinhood expands its U.S. tokenized offerings successfully, it could siphon retail volume from traditional brokers. Yet, regulatory approval for full 24/7 tokenized stocks in the U.S. remains uncertain, and Nasdaq's scale provides a moat against upstarts.
Ultimately, both may "win" by coexisting: Nasdaq for core market hours and institutions, Robinhood for off-hours retail innovation. The real loser could be trader work-life balance if nonstop markets become the norm.
Which is the Better Investment: HOOD or NDAQ?
For investors weighing these competitors as stock picks, Robinhood (HOOD) emerges as the stronger choice for those seeking growth potential, while Nasdaq (NDAQ) appeals more to value-oriented or conservative portfolios. As of December 20, 2025, HOOD trades at around $122 per share with a market capitalization of approximately $109 billion, reflecting its aggressive expansion into tokenization, sports betting, and prediction markets. Analysts are largely bullish, with a consensus "Moderate Buy" rating, underscoring optimism around HOOD's innovative strategies and earnings growth. The stock's trajectory suggests significant upside, driven by retail investor appeal and diversification beyond traditional brokerage.
In comparison, NDAQ trades at around $96 per share with a $54.5 billion market cap, offering stability as an established exchange operator. Its analyst consensus is also "Moderate Buy," implying modest upside. While NDAQ benefits from reliable revenue streams with its 23-hour trading push, it lacks HOOD's disruptive edge in blockchain and crypto, making it a safer but less exciting bet.
Overall, HOOD appears the better investment for risk-tolerant investors eyeing long-term gains from fintech innovation, whereas NDAQ suits those prioritizing dividends and steady returns in a mature market. Diversification across both could hedge against regulatory shifts in extended trading.
Tickeron's AI Trading Bots: Insights for HOOD
Tickeron's AI trading bots, such as A.I.dvisor and Double Agent Bot, provide data-driven signals to navigate these stocks. For HOOD, recent analysis shows bearish trends: The stock's Price Growth Rating is under pressure following a crash in December 2025, with AI robots generating gains in volatile sessions but warning of continued downside. Tickeron's A.I.dvisor analyzed 60 similar historical instances where the indicator turned negative, finding that in 52 cases (87% odds), the stock declined further in the following days.
These AI bots, such as A.I.dvisor, excel at processing vast datasets to forecast price movements with high accuracy. They can automate strategies around technical indicators, incorporating real-time developments like Robinhood's tokenization expansions or Nasdaq's SEC filings. For HOOD, which has seen highs from its blockchain initiatives, negative momentum might reflect investor concerns over regulatory challenges—making Tickeron's AI invaluable for timing trades in this dynamic sector. Investors can leverage these bots to enhance portfolio management, backtest strategies, and receive alerts on key signals, turning complex market data into actionable insights.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
NDAQ's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for NDAQ turned positive on October 09, 2026. Looking at past instances where NDAQ's MACD turned positive, the stock continued to rise in 32 of 44 cases over the following month. The odds of a continued upward trend are 73%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where NDAQ's RSI Indicator exited the oversold zone, 14 of 23 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 61%.
The Momentum Indicator moved above the 0 level on October 09, 2026. You may want to consider a long position or call options on NDAQ as a result. In 50 of 80 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 62%.
Following a +2.08% 3-day Advance, the price is estimated to grow further. Considering data from situations where NDAQ advanced for three days, in 226 of 357 cases, the price rose further within the following month. The odds of a continued upward trend are 63%.
NDAQ may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
NDAQ moved below its 50-day moving average on September 24, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for NDAQ crossed bearishly below the 50-day moving average on September 16, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 7 of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 47%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NDAQ declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 50%.
The Aroon Indicator for NDAQ entered a downward trend on September 25, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 34 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 79, placing this stock slightly better than average.
The Tickeron Price Growth Rating for this company is 44 (best 1 - 100 worst), indicating steady price growth. NDAQ’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 52 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 65 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 82 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.318) is normal, around the industry mean (-5.093). P/E Ratio (27.003) is within average values for comparable stocks, (25.252). Projected Growth (PEG Ratio) (1.712) is also within normal values, averaging (1.780). Dividend Yield (0.013) settles around the average of (0.018) among similar stocks. P/S Ratio (5.831) is also within normal values, averaging (7.166).
The Tickeron Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
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