Securitize Puts Its Own Shares Onchain on Day One of NYSE Debut

BlackRock-backed Securitize became the first newly public company to tokenize its own common stock on the same day it began trading on the New York Stock Exchange. The tokenized shares, under ticker SECZ, are live on Solana and Avalanche. Eligible U.S. investors can access them through Securitize's regulated platform, the company said.

The tokens represent the same common stock that trades on the NYSE, not a separate class. Tokenization changes only the ownership format, Securitize said. Shareholders remain subject to the same legal, contractual and transfer restrictions that apply to the underlying stock. The company called the move a demonstration of the regulated infrastructure it has spent years building for tokenized securities.

The listing followed shareholder approval of Securitize's merger with Cantor Equity Partners II. Fewer than 30% of the special purpose acquisition company's shareholders redeemed their shares, leaving more than 71% of the trust intact before the transaction closed, according to crypto.news. Securitize said the deal is expected to generate about $400 million in gross proceeds, including proceeds from a related private investment in public equity financing. That financing included an oversubscribed $225 million private investment round.

Shares of SECZ climbed more than 10% during their first trading session, reaching above $12, according to Yahoo Finance. The gains came as Bitcoin rebounded to around $62,000, lifting several publicly traded crypto-related companies alongside the wider digital asset market. Securitize said it expects to establish an onchain shareholder base from the first day of trading, with additional functionality and market infrastructure expected to develop as regulated tokenized securities continue to mature.

Securitize's latest move comes as the company continues expanding its tokenized asset offerings beyond money market funds. Ethena Labs plans to allocate $250 million to Securitize's tokenized AAA-rated collateralized loan obligation fund after the product expanded to Solana, according to crypto.news. The fund invests in U.S. dollar-denominated AAA-rated CLO tranches, with BNY serving as custodian of the underlying assets and acting as sub-adviser through BNY Investments.

The naive read is that this is just another tokenization announcement. The better read is that Securitize is putting its own equity onchain from day one, testing the infrastructure for issuer-sponsored tokenization. It creates a liquid onchain shareholder base from the start. The company has consistently stated that traditional financial assets will increasingly move onto blockchain networks through regulated, issuer-sponsored platforms. By placing its own publicly traded shares onchain at listing, Securitize is applying that approach to its own equity instead of limiting tokenization to third-party assets.

Interest in tokenized traditional financial products has continued to grow across the asset management industry. Firms including BlackRock and Franklin Templeton have expanded their presence in tokenized money market funds, adding momentum to the use of blockchain infrastructure for regulated financial products, according to crypto.news. The question is whether other public companies will follow Securitize's model. That depends on whether the regulated infrastructure can handle the volume and whether the legal framework holds up under scrutiny. Tokenized stocks still face custody, settlement and regulatory challenges, as discussed in our earlier piece on how tokenized stocks fail as collateral even when the stock price does not move.

Securitize shares ended the first session up more than 10% at $12. The company expects to establish an onchain shareholder base from day one, with additional functionality to develop as regulated tokenized securities mature.