Securitize debuts on NYSE after BlackRock-backed tokenization firm merges with a SPAC, shares gain

Securitize, a crypto-market tokenization specialist backed by BlackRock, made its public-market debut Thursday on the New York Stock Exchange after completing a merger with a special-purpose acquisition company. Reporting on the first day of trading, Securitize was described as rising nearly 3% since the market opened, after shares had traded below their IPO reference level in pre-market activity.

Tokenization, in this context, means wrapping financial assets like stocks or funds into blockchain-based tokens so they can be issued, transferred, and potentially settled on-chain. Securitize positions itself as a platform for that kind of “on-chain” access, serving the bridge between regulated finance and blockchain infrastructure.

According to the report, Securitize raised $400 million through its public offering after merging with Cantor Equity Partners II, a SPAC (a shell company that raises money for the purpose of later merging with an operating business). The same reporting said the transaction valued Securitize at $1.25 billion. It also noted that about 71% of the SPAC’s cash pool stayed in the merger rather than being withdrawn by investors.

In an interview conducted at the NYSE, Securitize President Brett Redfearn called the listing a “watershed event” in bringing traditional services “on-chain,” and said the company sees the industry reaching a “tipping point” in tokenization. The comments were part of the company’s effort to frame the debut as more than a crypto listing, tying it to mainstream financial infrastructure.

The company also said it plans to issue a tokenized version of its own stock as trading begins publicly. Tokenized stock would represent the company’s shares in token form, a move that, if implemented as described, would be aimed at showcasing the mechanics of tokenization on a platform level rather than only as a service for other issuers.

Securitize joins a small but growing group of crypto-related businesses that have accessed public markets over the past two years, including Circle, the issuer of the USDC stablecoin, which became the first crypto firm to complete an IPO in June 2025. Gemini, the centralized exchange, followed roughly three months later, and BitGo was described as the first crypto company to go public in 2026, according to the report.

Still, the story is set against a cautious broader backdrop for crypto listings. The report said the anticipated wave of crypto IPOs has largely fizzled amid a downturn in crypto markets, and it contrasted that with investors’ attention on mega listings from high-profile companies.

Securitize’s debut comes as traditional finance firms increasingly test blockchain-based settlement and asset representation, but what the market will focus on next is how effectively these tokenization products can translate into recurring revenue and volume. The company’s near-term disclosures about financial results and the operating scale of its tokenization business were not detailed in the reporting cited here, so observers will likely watch for follow-through after the listing, including guidance on monetization and regulatory progress.