Securitize Tokenized Stock Value Drops to $208.6 Million
Securitize's tokenized shares lost more than half their value in under a month, while Circle-linked tokens gained ground.
The market capitalization of Securitize's SECZ tokens fell from a high of $430.4 million on Sept. 28 to $208.6 million by Sunday. This decline erased gains that followed the Oct. 8 launch of its stock trading platform on Solana. The drop coincided with a sell-off in Securitize's underlying shares on the NYSE, which closed Friday down 2.1% at $7.80 apiece. Citi downgraded SECZ from Buy to Neutral on Oct. 13 amid concerns about tokenization revenue.
Meanwhile, Circle reclaimed the top spot in the tokenized stock market. Circle-linked tokens reached a combined value of $383.6 million across several issuers, gaining about 20% in market value since Sept. 28. Despite the shift, SECZ remains the largest individual tokenized stock because Circle's total is spread across products from multiple issuers.
The total tokenized equities market is valued at $3.3 billion. Securitize helps asset managers including BlackRock issue securities on blockchains and brought its own common shares onchain alongside its July 2 NYSE listing. The market cap of Securitize's underlying NYSE shares is $1.27 billion.
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