Securitize (Ticker: SECZ), a tokenization platform backed by BlackRock, has seen its stock fall approximately 40% about a week after completing its SPAC merger with Cantor Equity Partner II and going public. It recovered some losses after a single-day plunge of 25% on July 7. This sharp decline contrasts sharply with the continued heating up of the tokenization sector.
SECZ stock drops 40%, no major negative catalyst
According to analysis by Jeff Dorman, Chief Investment Officer of Arca, the sharp decline in Securitize stock after listing "has little to do with fundamentals or any specific news." Dorman explained that after a SPAC (special purpose acquisition company) merger is completed, there is typically a structural shift in the investor base: arbitrage- and redemption-focused SPAC holders exit, replaced by public equity investors evaluating the company's fundamentals. When free float is limited or the stock has already risen before the merger, this transition often leads to sharp price volatility.
Securitize is one of the few pure-play publicly traded investment targets in the tokenization space, with BlackRock as its main backer. Citigroup predicts tokenized asset scale could reach $5.5 trillion by 2030; Boston Consulting Group and Ripple estimate the market could approach $19 trillion by 2033.
Post-IPO crypto aftershock: stock declines of five major companies after listing
Based on Dorman's comments and public market data, the stock performance of recent crypto-related companies after going public is as follows:
BitGo (BTGO): down approximately 70% since listing in February 2026
Gemini (GEMI): down approximately 85% since listing in September 2025
Bullish (BLSH): down more than 70% from its listing price of $90 in August 2025, currently below its IPO price of $37
Circle (CRCL): still more than double its IPO price of $31, but below its opening price of $69.50, down approximately 77% from its peak in June 2025
Coinbase (COIN): down approximately 56% from its direct listing opening price of $381 in April 2021
Tuesday saw overall weakness in crypto-related stocks: CRCL fell 5%, BTGO fell over 4%, Figure (FIGR) plunged nearly 8.8%; the tech-heavy Nasdaq fell 2% on the same day.
Frequently Asked Questions
What is Securitize (SECZ) and why is it attracting attention in the tokenization craze?
Securitize is a tokenization platform backed by BlackRock, positioned as an infrastructure provider for tokenizing traditional assets (such as funds, credit, etc.) on the blockchain. BlackRock, Franklin Templeton, and JPMorgan have all accelerated the issuance of tokenized assets on the blockchain, and Securitize is one of the few pure-play publicly traded investment targets in this sector. It went public in July 2026 via a SPAC merger (with Cantor Equity Partner II) under the ticker SECZ.
Why did Securitize's stock fall 40% after its SPAC listing?
According to Arca CIO Jeff Dorman, the main reason is the normal investor base transition after a SPAC merger completion—arbitrage-oriented SPAC holders exit, replaced by long-term equity investors evaluating fundamentals. With limited free float, this can easily trigger sharp volatility. Dorman said no "major negative fundamental catalysts" have been identified. Additionally, the recent post-IPO malaise among multiple crypto companies has made investors generally cautious.
How are major crypto-listed stocks performing currently?
According to reports, Gemini (GEMI) has fallen approximately 85% since listing, BitGo (BTGO) down approximately 70%, Bullish (BLSH) down over 70% (below IPO price), Circle (CRCL) down approximately 77% from its peak, and Coinbase (COIN) down approximately 56% from its opening price. For real-time stock prices, please refer to exchange quotes.
