Flow Traders Opens 24/7 OTC for Tokenized Assets

Flow Traders 24/7 OTC liquidity for tokenized assets went live on Tuesday, targeting a gap that has quietly embarrassed the tokenization thesis for years: institutions can hold blockchain versions of stocks and gold, but when traditional markets close, they're stuck. The firm — ranked among the top three global ETP market makers by trading volume in 2025 — is now quoting two-way prices around the clock for tokenized equities, commodities, and money market funds through its Digital Asset OTC platform.

The Weekend Risk Problem Nobody Talks About

Here's the scenario that's been playing out quietly. Geopolitical tensions flare on a Saturday — say, the Iran-Israel flare-ups that rattled markets in recent weeks — and your traditional trading desk is dark. Your exposure sits there, unhedged, while crypto markets churn and prices gap. You own a tokenized version of gold. Should be better than the old world, right? Except there's no one on the other side of the trade at 2 AM on a Sunday.

That's the problem Flow Traders 24/7 OTC liquidity tokenized assets is designed to fix. The firm's Digital Asset OTC platform now continuously quotes prices for permissioned institutional counterparties — ready to buy or sell tokenized assets outside regular market hours. Access comes via direct FIX connectivity and other standard trading interfaces, so this isn't some novel onboarding headache.

Marc Jansen, co-chief trading officer at Flow Traders, put it plainly. The demand is coming from institutions that want exposure management beyond the nine-to-five window — and the tokenized versions of equities and commodities already trading on Binance, OKX, and Hyperliquid are closing in on traditional market open prices over the weekend precisely because of this kind of off-hours price discovery activity.

All weekend long, with these markets getting pretty close to the traditional market open price as a result of that weekend price discovery. OTC liquidity helps support that activity, particularly for larger trades where public venue liquidity is still developing.

Why Flow Traders Has the Edge Here

Twenty years of ETF market-making is not a trivial credential. Flow Traders has spent two decades pricing products when pieces of the underlying market are offline — think closing a European equity ETF after Frankfurt shuts but before New York opens. That muscle memory, and the pricing models built around it, translates almost directly to tokenized assets.

Thomas Spitz, CEO of Flow Traders, said the firm has operated at the intersection of traditional and digital markets for years and described the launch as a natural extension of that work. What's new is the formalization: the OTC platform now covers tokenized money market funds — specifically Franklin Templeton BENJI, Franklin Templeton's on-chain U.S. government money fund — alongside Tether Gold (XAUT) and other tokenized equities and commodities.

For Tether, having a firm like Flow Traders quoting XAUT around the clock is validation. Paolo Ardoino, CEO of Tether, said liquidity providers willing to price XAUT efficiently across venues are exactly what's needed to broaden the market's reach. That's not a PR quote — getting two-way OTC pricing for a tokenized commodity from a top-three global ETP market maker genuinely changes the calculus for any institution that's been watching tokenized gold from the sidelines.

For us, with extensive experience in the ETF markets, it's a more familiar problem. We've always priced and managed risk in products when parts of the primary market are closed. That already requires using models rather than relying purely on underlying market prices.

How Big Is the Tokenized Asset Market?

What does the tokenized real world assets market look like in 2025?

Tokenized real world assets is one of crypto's most-cited growth stories, and the numbers actually back it up. The tokenized gold and silver market alone is approaching $6 billion in total value — that's up roughly fourfold from where it sat at the end of 2024. The broader tokenized real world assets market growth 2025 picture looks more dramatic still: the market sits at an estimated $3 trillion today, growing at a compound annual rate of 44.25%, with projections suggesting it could clear $18 trillion by 2031.

The scale matters because it reframes what Flow Traders is actually building. This isn't a niche desk for crypto-native clients experimenting with on-chain gold. This is infrastructure for a market that, if the projections are right, will be comparable in size to current global equity markets within a decade. Being the firm that figured out around-the-clock two-way pricing first — and doing it with 20 years of ETF model-building behind you — is a real competitive position.

The service will expand over time. Flow Traders said asset availability will follow institutional demand, regulatory developments, and the integration of supported trading venues. Product offerings differ by jurisdiction, and access depends on client eligibility through different members of the Flow Traders group based on their respective regulatory statuses. None of that is unusual for a firm operating across global markets — but it does mean the initial launch is just the opening move, not the whole picture.