Securitize nears NYSE listing as Benchmark reiterates Buy, sets $16 target

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Securitize nears NYSE listing

Highlights

Securitize is poised for a near-term NYSE listing under ticker SECZ following SEC approval of its merger registration and a June 29 shareholder vote.
Benchmark reiterates its Buy rating for Securitize, sets a $16 target price based on 2027 revenue estimates of $178 million and $3.4 billion in tokenized AUM as of March 31.
Securitize's partnerships with BlackRock and Computershare, and integration with DeFi platforms, support its leadership in a tokenized asset market exceeding $30 billion.

Listing path and valuation case

As reported by The Block, Benchmark Equity Research is maintaining its Buy rating on Securitize and setting a $16 price target based on projected 2027 revenue of $178 million. The call follows the SEC's declaration last week that the registration statement for Securitize's merger with Cantor Equity Partners II has become effective, removing a major hurdle before the shareholder vote scheduled for June 29.

If shareholders approve the deal and customary closing conditions are met, the combined company is expected to trade on the NYSE under the ticker SECZ. In a note to investors on Wednesday, Benchmark analyst Mark Palmer says Securitize could emerge as a public company within days of that vote.

Palmer argues that the central issue for investors is no longer whether real-world asset tokenization develops, but which firms control the infrastructure behind it. He says Securitize stands out because its regulatory footprint spans multiple jurisdictions and would be difficult for rivals to replicate quickly.

The company operates as an SEC-registered broker-dealer, an SEC-regulated alternative trading system, an SEC-registered transfer agent, an exempt reporting adviser and a fund administration affiliate in the U.S. It also holds a regulated trading and settlement license under the EU DLT Pilot Regime, according to the note.

Partnerships and market adoption support outlook

Benchmark points to Securitize's expanding relationship with BlackRock as a key validation of its platform. The research note highlights Securitize's role as tokenization platform, transfer agent and placement agent for BlackRock's BUIDL fund, which it says has grown to about $2.46 billion in assets since its March 2024 launch.

The note also says BlackRock selected Securitize to support its proposed Daily Reinvestment Stablecoin Reserve Vehicle. Beyond private-market tokenization, Benchmark says Securitize's late-April partnership with Computershare extends its reach into public equities by helping U.S.-listed clients issue equity securities in tokenized form through Securitize's technology.

On the demand side, Benchmark says tokenized assets are evolving from static wrappers into programmable collateral. It cites VanEck's Securitize-issued Treasury fund going live on the DeFi lending platform Euler in late May as an example of that shift.

As of March 31, Securitize holds $3.4 billion in tokenized assets under management, within a broader tokenized asset market that nearly tripled over the past year to exceed $30 billion. Benchmark says risks to its bullish view include regulatory uncertainty, the pace of adoption and reliance on key partners.

Our earlier article on the recent pickup in U.S. IPO activity explained how improving market conditions and stronger investor appetite are drawing more companies back to public listings after a quiet period. We also noted concerns that a sustained wave of new offerings could strain valuations and, if supply outpaces demand in certain sectors, add to broader market instability.

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