Wall Street Turns to 24/7 Tokenized Assets After Gulf Strikes

After major U.S.-Iran airstrikes in February 2026 that occurred during weekends and other off-market hours, Wall Street traders and institutions began using blockchain-based tokenized securities and on-chain perpetual futures to keep markets open for price discovery and hedging. Tokenized U.S. Treasuries reached $12.78 billion in April 2026.

Desk traders use tokenized assets and perpetuals on crypto-native platforms such as Hyperliquid to price gold, oil and war risk when traditional exchanges are closed. These instruments settle on-chain in seconds, allowing collateral to move across borders without waiting for banking hours or multi-day settlement cycles.

Institutional adoption has moved beyond pilot programs. BlackRock and Franklin Templeton have incorporated tokenized funds into core products to maintain liquidity when physical infrastructure or banking corridors are disrupted. BlackRock’s BUIDL fund held about $1.9 billion in tokenized U.S. Treasuries in April 2026.

Tokenized commodities have seen increased volumes as traders seek continuous hedges against supply shocks. Disruptions near the Strait of Hormuz and reported drone threats to shipping have driven demand for tokenized gold and oil. On decentralized exchanges, on-chain perpetual futures account for more than 67% of builder-deployed contracts and weekend trading volumes rose ninefold since the start of 2026.

Some governments and state-linked actors have tested blockchain payments to preserve trade and value transfers outside the U.S.-dollar system after naval blockades and sanctions affected traditional channels. Crypto-native platforms provided price discovery during key moments in February.

International policy forecasts have informed trading behavior. IMF chief economist Pierre-Olivier Gourinchas warned, “What’s happening in the Gulf is potentially much, much larger, and that’s what our scenarios are kind of documenting.” The IMF estimates oil could average $110 per barrel in 2026 and $125 in 2027 under a deeper conflict, and projects global growth could slow to 2.5% in an adverse scenario and to 2% in a worst-case outcome.

Operational and regulatory questions remain, including custody, legal recognition of tokenized securities and cross-border compliance. Legacy exchanges face pressure to extend hours or offer continuous pricing to compete with always-on digital markets. Atomic settlement on blockchain reduces settlement and counterparty risk by completing transfers on-chain in seconds instead of relying on multi-day settlement processes.