Benchmark, the prominent U.S. investment bank, has initiated coverage of digital securities platform Securitize with a definitive Buy rating and a $16 price target. This significant endorsement arrives as Securitize advances toward a public listing through a merger with Cantor Equity Partners II, a Special Purpose Acquisition Company (SPAC). Following the merger, the combined company is expected to trade on Nasdaq under the ticker SECZ.
Analyst Mark Palmer likened the firm to a "picks and shovels" play on the broader tokenization trend, arguing that it stands to benefit as more real-world assets (RWAs) move onchain, regardless of which specific products or issuers succeed. The report touted the tokenization sector as one of the most "profound shifts" in capital markets since the introduction of electronic trading, positioning Securitize at the "epicenter" of that shift.
Securitize operates a full-stack platform that helps institutions issue, manage, and trade tokenized securities, capturing fees throughout the asset's lifecycle. According to the report, the company already accounts for roughly 70% of the U.S. tokenization market. It has established key partnerships with major asset managers, most notably BlackRock, whose BUIDL fund—the world's largest tokenized treasury fund with about $1.7 billion in assets—utilizes Securitize's infrastructure.
The bullish call aligns with growing institutional momentum for tokenization. Analysts project that upwards of $30 trillion could flow into the sector over the next decade. Further validating this trend, the New York Stock Exchange recently tapped Securitize to help build a platform for issuing and trading tokenized stocks and ETFs, part of a broader push toward 24/7 markets and blockchain-based settlement.
Regulatory and political landscapes are also evolving. During a recent House Financial Services Committee hearing, Rep. Andy Barr stated, "no doubt tokenization of securities is coming." SEC Commissioner Hester Peirce has encouraged firms exploring tokenization to "come in and talk to us" as the agency works on accommodating new financial products. Proponents argue tokenization can streamline settlement, expand market access, and improve capital efficiency.
