Securitize Tokenized Stock Market Capitalization Falls by Over 50%

The value of Securitize (SECZ) tokenized shares has more than halved in less than a month, while the gap with market leader Circle (CRCL) has widened. The capitalization of SECZ tokens decreased from a peak of $430.4 million on September 28 to $208.6 million by Sunday, according to Token Terminal. Securitize shares, traded on the NYSE, closed Friday down 2.1% at $7.80 per share with a company capitalization of $1.27 billion.

Tokens tracking Circle shares have gained about 20% since September 28, reaching $383.6 million, reclaiming the top spot in the $3.3 billion tokenized shares market.

The decline in tokenized SECZ coincided with a sell-off of Securitize's underlying shares on the NYSE, which erased the growth following the launch of the company's trading platform on Solana on October 8. Citi downgraded SECZ from 'Buy' to 'Neutral' on October 13 due to concerns about tokenization revenues.

Securitize assists asset managers, including BlackRock, in issuing securities on the blockchain. The company launched its common shares on the blockchain simultaneously with its NYSE listing on July 2 – at that time, it was the largest tokenized share. SECZ remains the largest individual tokenized share, while Circle's assets are distributed across products from several issuers: CRCLb from Binance on BNB Chain leads with $154.1 million.