Securitize, the BlackRock-backed tokenization firm, has lost about 40% of its market value just one week after going public through a SPAC merger. Analysts say the decline reflects the typical dynamics of SPAC listings rather than any deterioration in the company's fundamentals.
On July 7, 2026, Securitize shares fell nearly 25% during trading before recovering part of the losses, according to TradingView. Even so, the stock remains down about 40% since completing its merger with Cantor Equity Partner II.
Securitize share price performance. Source: TradingView.
Arca Chief Investment Officer Jeff Dorman said he sees no fundamental reason for such a sharp decline.
According to Dorman, this type of price action is common among companies that go public through SPAC mergers. Once the transaction closes, arbitrage-focused investors typically exit their positions, leaving long-term shareholders to reassess the company's underlying business prospects, often resulting in elevated volatility.
Tokenization market continues to expand
The sell-off comes despite growing interest in the tokenization of real-world assets, one of the fastest-growing segments of the blockchain industry.Major financial institutions, including BlackRock, Franklin Templeton, and JPMorgan, continue to develop blockchain-based products tied to government bonds, investment funds, credit instruments, and equities. They expect the sector to grow significantly over the coming years.
Citi projects the tokenized asset market could reach $5.5 trillion by 2030, while BCG and Ripple estimate it could approach $19 trillion by 2033.
Investors remain cautious on crypto listings
Dorman said recent public listings of crypto companies have also weighed on investor sentiment.He noted that shares of BitGo, Gemini, Bullish, and several other crypto firms have declined significantly since their market debuts. Circle remains the exception, with its stock still trading well above its IPO price despite a notable pullback from its all-time high.
Crypto-related stocks broadly came under pressure on Tuesday. Circle shares fell about 5%, BitGo lost more than 4%, and Figure dropped nearly 9%.
Meanwhile, the market capitalization of tokenized real-world assets has surpassed $51 billion, up about 40% since the beginning of 2026. According to Bernstein, nearly half of the market consists of private credit, while tokenized U.S. Treasuries account for roughly 30%.
Earlier, Ondo Finance launched tokenized versions of the BlackRock iShares Core S&P 500 ETF (IVV) and Micron shares under a framework aligned with SEC guidance.
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