--- title: Securitize - The Most Important RWA Stock No One Has Heard About Yet description: This week's Two Satoshis explores Securitize's upcoming public listing through CEPT, the rapidly growing market for tokenized real-world assets, and why the company has emerged as a leading provider of tokenization infrastructure. image: https://www.ar.ca/hubfs/Two%20sats%20June%2029%202026%20%281%29.png --- [![email-sig-logowhite](https://www.ar.ca/hs-fs/hubfs/email-sig-logowhite.png?width=102&height=96&name=email-sig-logowhite.png "email-sig-logowhite")](https://www.ar.ca/) [![Get in Touch](https://no-cache.hubspot.com/cta/default/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3.png)](https://cta-redirect.hubspot.com/cta/redirect/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3) ** ** ** [![Arca](https://www.ar.ca/hs-fs/hubfs/arca_square_576x576.png?width=60&height=30&name=arca_square_576x576.png "Arca")](https://www.ar.ca/) [![Get in Touch](https://no-cache.hubspot.com/cta/default/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3.png)](https://cta-redirect.hubspot.com/cta/redirect/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3) ** ** ** Search **Menu** ** ** [![Data Room](https://no-cache.hubspot.com/cta/default/4536350/72e2934a-0f70-4634-897e-b99fd4807a9b.png)](https://cta-redirect.hubspot.com/cta/redirect/4536350/72e2934a-0f70-4634-897e-b99fd4807a9b) [![Get in Touch](https://no-cache.hubspot.com/cta/default/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3.png)](https://cta-redirect.hubspot.com/cta/redirect/4536350/28ac2c2f-186c-436f-9682-1169cf946ad3) ![](https://www.ar.ca/hubfs/Blog/Thats%20Our%202%20Satoshis/Branding/2-Sats-Header.png) [Market Recap](https://www.ar.ca/blog/tag/market-recap) | # Securitize - The Most Important RWA Stock No One Has Heard About Yet [![Jeff Dorman, CFA](https://www.ar.ca/hubfs/Jeff%20Dorman.png)](https://www.ar.ca/blog/author/jeff-dorman-cfa) Written by [Jeff Dorman, CFA](https://www.ar.ca/blog/author/jeff-dorman-cfa) Jun 29, 2026 ******![Thats Our 2 Satoshis Logo](https://www.ar.ca/hs-fs/hubfs/Thats%20Our%202%20Satoshis%20Logo.png?width=300&name=Thats%20Our%202%20Satoshis%20Logo.png)****** ![Screenshot 2026-06-29 135133](https://www.ar.ca/hs-fs/hubfs/Screenshot%202026-06-29%20135133.png?width=712&height=469&name=Screenshot%202026-06-29%20135133.png) *Source: TradingView, CNBC, Bloomberg, Messari*   ***Guest Edition - Written by Joey Reinberg, Analyst, Research***   Securitize is expected to become publicly traded through its SPAC merger with Cantor Equity Partners II, Inc. (CEPT), with trading expected to commence under the ticker SECZ on or around July 2. The S-4 was recently declared effective after a longer-than-expected regulatory process that included multiple amendments and a transition to KPMG as auditor. Shareholders are expected to vote on June 29.  The transaction will create one of the first pure-play public ways to gain exposure to tokenization of real-world assets (RWAs), which is one of 3 high-growth areas within blockchain (the others being DeFi and stablecoin/payments). **The Benefits of Tokenization** Tokenization is simply the process of moving ownership of financial assets onto blockchain rails. The current financial system relies on custodians, transfer agents, administrators, brokers, clearinghouses, and settlement procedures that were largely built decades ago. While these intermediaries serve important functions, they also create friction, increase costs, and slow the movement of capital. The benefits are straightforward: faster settlement, 24/7 markets, fractional ownership, broader distribution, and programmable assets. Once assets exist on-chain, compliance, transfers, lending, collateralization, and settlement can all be automated through software. ![Screenshot 2026-06-29 132824](https://www.ar.ca/hs-fs/hubfs/Screenshot%202026-06-29%20132824.png?width=708&height=327&name=Screenshot%202026-06-29%20132824.png) The market remains small today, but growth has accelerated meaningfully over the past two years as institutions have become increasingly comfortable using blockchain infrastructure.  **What is Securitize?** While tokenization has become one of the most widely discussed themes in crypto and fintech, relatively few companies are building the underlying infrastructure layer. This is where Securitize comes in. Securitize can best be understood as a full-stack tokenization platform. The company helps issuers bring assets on-chain through issuance, investor onboarding, compliance, distribution, and smart contract infrastructure. It also provides the servicing layer through transfer agency, fund administration, recordkeeping, compliance, and asset servicing. ![Screenshot 2026-06-29 132903](https://www.ar.ca/hs-fs/hubfs/Screenshot%202026-06-29%20132903.png?width=731&height=309&name=Screenshot%202026-06-29%20132903.png) This makes the company difficult to categorize. Is it a financial software company, a transfer agent, a fund administrator, a capital markets infrastructure provider, or a blockchain company? The answer is all of the above. **The Competitive Landscape** The tokenization market is becoming increasingly competitive. Companies such as Ondo, Superstate, Figure, Centrifuge, xStocks, and eventually traditional market infrastructure providers such as DTCC are all pursuing different approaches to bringing assets on-chain. The market is increasingly splitting into two camps. The first consists of crypto-native platforms that prioritize open access, DeFi composability, and retail distribution. The second consists of institutional platforms that prioritize regulatory compliance, transfer agent oversight, and integration with traditional capital markets. Securitize has positioned itself firmly in the second category. ![Screenshot 2026-06-29 132921](https://www.ar.ca/hs-fs/hubfs/Screenshot%202026-06-29%20132921.png?width=1084&height=682&name=Screenshot%202026-06-29%20132921.png) Rather than competing to build the most open or permissionless platform, Securitize has focused on building the regulatory and operational infrastructure required for large institutions to issue and manage tokenized assets. Its biggest advantage is its vertically integrated platform. Securitize operates across issuance, transfer agency, broker-dealer services, ATS trading, fund administration, compliance, onboarding, and asset servicing, enabling it to capture value across the entire lifecycle of a tokenized asset rather than just a single piece of the stack. We think owning the transfer agent is particularly important. Instead of creating wrapped versions of assets through intermediaries, Securitize can tokenize securities at the source while preserving the official shareholder record and investor rights. The recent controversy over "tokenized" SpaceX shares highlighted why this matters, as many products didn't provide direct ownership or true shareholder rights. Combined with its partnerships with Computershare and Continental, Securitize may be well-positioned to bring existing securities on-chain while maintaining the infrastructure institutions already trust. **Institutions Are Beginning to Choose Winners** The biggest question around tokenization has never been about technology; it has been whether institutions would actually move meaningful assets on-chain. Over the last two years, that question has increasingly been answered. Securitize has become the tokenization partner for many of the world's largest asset managers, including BlackRock, Apollo, VanEck, Hamilton Lane, and KKR. Rather than building blockchain infrastructure internally, institutions are increasingly partnering with Securitize. The company is also expanding deeper into traditional market infrastructure through partnerships with NYSE and Computershare. Securitize and the NYSE are working to launch a tokenized equity exchange later in 2026, while the Computershare partnership bridges tokenized assets with one of the largest transfer agents in the world. **Financials** Securitize's financial results are beginning to reflect growing adoption of the platform. In Q1 2026, revenue reached $19.5 million, up 39% year over year (adjusted EBITDA was barely positive after additional fees due to becoming a public company). ![Screenshot 2026-06-29 132938](https://www.ar.ca/hs-fs/hubfs/Screenshot%202026-06-29%20132938.png?width=719&height=325&name=Screenshot%202026-06-29%20132938.png) Importantly, these results are being generated while tokenization remains a relatively small market. If tokenized assets continue to scale, Securitize's revenue opportunity expands alongside the broader ecosystem. The simplest way to think about the model is that as Securitize brings more AUM onto the platform, revenue should grow alongside it. More assets on the platform means more fund administration, transfer agency, compliance, issuance, and servicing fees flowing through the business. **Arca’s Take** We think Securitize could be one of the most compelling ways to invest in tokenization. Rather than betting on any single asset or issuer, investors could gain exposure to the infrastructure layer that benefits as more assets move on-chain. To frame the opportunity, we modeled Securitize's potential value as platform AUM scales out to 2030.  ![Screenshot 2026-06-29 133018](https://www.ar.ca/hs-fs/hubfs/Screenshot%202026-06-29%20133018.png?width=652&height=446&name=Screenshot%202026-06-29%20133018.png) The key takeaway is simple: if tokenization grows, Securitize's revenue opportunity grows alongside it. Our model implies meaningful upside even at relatively modest levels of adoption, with the opportunity becoming increasingly attractive as platform AUM scales. Of course, competition is increasing, with players including Ondo Finance, Superstate, Figure, and Centrifuge all pursuing different approaches to bringing assets on-chain. Pricing will likely compress over time, and projections at larger AUM levels should be viewed as illustrative rather than forecasts. That said, Securitize's advantage is its end-to-end platform. The company operates across issuance, transfer agency, broker-dealer services, trading, fund administration, compliance, onboarding, and asset servicing, allowing it to capture value across the entire tokenization stack. They are also cash-rich (~$500mm) after this merger, allowing them to scale faster than most competitors. Most tokenization companies remain private, making direct exposure difficult. With the SPAC vote scheduled for June 29 and trading expected around July 2, we believe Securitize could offer one of the clearest public-market ways to invest in what we view as one of the most important long-term trends in crypto. As we’ve laid out multiple times, blockchain growth is happening and rivals other hot areas of investment like AI and robotics. The problem is simply matching the growth areas (RWA tokenization, stablecoins/payments, DeFi) to the ever-shrinking and often irrelevant investable universe of tokens and stocks. But when a pure-play opportunity emerges, one should pay attention. ***Disclosure:****** ****Securitize serves as the fund administrator to certain Arca Funds.*  ***And That’s Our Two Satoshis!***   *Thanks for reading everyone! Questions or comments, just let us know.*   **The Arca Portfolio Management Team** *Jeff Dorman, CFA - Chief Investment Officer* *Katie Talati - Director of Research* *Sasha Fleyshman - Portfolio Manager* *David Nage - Portfolio Manager* *Wes Hansen - Director of Trading and Operations* *Alex Woodard - Associate, Research* *Christopher Macpherson - Research Analyst* *Andrew Masotti - Associate, Trading and Operations* *Joey Reinberg, Associate, Trading and Operations*     **To learn more or talk to us about investing in digital assets and cryptocurrency** **call us now at [(424) 289-8068](tel:+14242898068).** ### Subscribe For the Latest Blockchain News & Analysis     Disclaimer: The views expressed here are those of the author, and is not investment advice. This commentary is provided as general information only and is in no way intended as investment advice, investment research, legal advice, tax advice, a research report, or a recommendation. Any decision to invest or take any other action with respect to any investments discussed in this commentary may involve risks not discussed, and therefore, such decisions should not be based solely on the information contained in this communication. Please consult your own financial/legal/tax professional. Statements in this communication may include forward-looking information and/or may be based on various assumptions. The Arca Funds, its affiliates, and/or clients may hold a position in any investment discussed as part of this communication, where any such investment is based on Arca’s proprietary research analytics. Actual future results or occurrences may differ significantly from those anticipated and there is no guarantee that any particular outcome will come to pass. The statements made in this commentary are subject to change at any time. Arca disclaims any obligation to update or revise any statements or views expressed in this commentary. Past performance is not a guarantee of future results and there can be no assurance that any future results will be realized. Some or all of the information provided  may be based on statements of opinion. In addition, certain information  may be based on third-party sources, which information is believed to be accurate, but has not been independently verified.  This commentary is not intended to be an offer to sell or a solicitation of any offer to buy any securities, or a solicitation to provide investment advisory services. Previous Story [← What's Driving Token Prices? June 24, 2026](https://www.ar.ca/blog/whats-driving-token-prices-june-24-2026) [** ](https://www.ar.ca/blog) Next Story [What's Driving Token Prices? July 1, 2026 →](https://www.ar.ca/blog/whats-driving-token-prices-july-1-2026) ## You May Also Like These Stories on Market Recap [![](https://www.ar.ca/hubfs/Two%20sats%20July%206%202026.png) ](https://www.ar.ca/blog/crypto-green-shoots-are-sprouting) [Market Recap](https://www.ar.ca/blog/tag/market-recap) ### [Crypto Green Shoots Are Sprouting](https://www.ar.ca/blog/crypto-green-shoots-are-sprouting) Jul 6, 2026 | 1 min read [![](https://www.ar.ca/hubfs/_Two%20sats%20June%2022%202026.png) ](https://www.ar.ca/blog/galaxy-digital-glxy-how-a-distressed-mining-site-buyout-became-both-a-pot-of-gold-and-an-identity-crisis) [Market Recap](https://www.ar.ca/blog/tag/market-recap) ### [Galaxy Digital (GLXY): How a Distressed Mining Site Buyout Became Both a Pot of Gold and an Identity Crisis](https://www.ar.ca/blog/galaxy-digital-glxy-how-a-distressed-mining-site-buyout-became-both-a-pot-of-gold-and-an-identity-crisis) Jun 22, 2026 | 1 min read [![](https://www.ar.ca/hubfs/Two%20sats%20June%2015%202026.png) ](https://www.ar.ca/blog/the-clarity-acts-last-fight-isnt-about-crypto) [Market Recap](https://www.ar.ca/blog/tag/market-recap) ### [The CLARITY Act's Last Fight Isn't About Crypto](https://www.ar.ca/blog/the-clarity-acts-last-fight-isnt-about-crypto) Jun 15, 2026 | 1 min read ### Arca Los Angeles I New York (424) 400-7444 info@ar.ca [![LinkedIn](https://www.ar.ca/hubfs/LinkedIn.png "LinkedIn")](https://www.linkedin.com/company/arcafinance/mycompany/) [![Twitter](https://www.ar.ca/hubfs/Twitter.png "Twitter")](https://twitter.com/arca) [![Youtube](https://www.ar.ca/hubfs/Youtube.png "Youtube")](https://www.youtube.com/c/Arcafinance) ### Contact Us Copyright © 2025 Arca Holdings. All Rights Reserved.  |  [Important Disclosures](https://www.ar.ca/important-disclosures) ```json { "@context" : "http://schema.org", "@type" : "VideoObject", "contentUrl" : "https://youtu.be/hHdcrzD7_0w", "description" : "Meet the founders of Arca and learn about what inspired them to join the digital asset ecosystem. Rayne Steinberg – Co-Founder & Chief Executive Officer Jeff Dorman – Co-Founder & Chief Investment Officer Phil Liu – Co-Founder & Chief Legal Officer.", "duration" : "PT4M13S", "embedUrl" : "https://www.youtube.com/embed/hHdcrzD7_0w", "name" : "Meet the Founders of Arca", "thumbnailUrl" : "https://i.ytimg.com/vi/hHdcrzD7_0w/default.jpg", "uploadDate" : "2022-02-15T15:49:56Z" } ``` ```json { "@context" : "https://schema.org", "@type" : "SiteNavigationElement", "Name" : [ "HOME", "Hedge-Funds", "Bitcoin-Fund", "Blog", "About", "Team", "Careers", "Data Room", "Get in Touch" ], "Url" : [ "https://www.ar.ca/", "https://www.ar.ca/arca-hedge-funds", "https://www.ar.ca/ai-bitcoin-fund", "https://www.ar.ca/blog", "https://www.ar.ca/about", "https://www.ar.ca/arca-team", "https://www.ar.ca/careers", "https://arcafunds.hvstprivate.com/", "https://www.ar.ca/contact?hsCtaTracking=28ac2c2f-186c-436f-9682-1169cf946ad3%7C63e370f0-aacd-4463-8bce-3616a7b4b7f3" ] } ``` ```json { "@context" : "https://schema.org/", "@type" : "WebSite", "name" : "Ar", "potentialAction" : { "@type" : "SearchAction", "query-input" : "required name=search_term_string", "target" : "https://www.ar.ca/search?q={search_term_string}" }, "url" : "https://www.ar.ca/" } ``` ```json { "@context" : "https://schema.org/", "@type" : "WebPage", "name" : "Ar", "speakable" : { "@type" : "SpeakableSpecification", "xpath" : [ "/html/head/title", "/html/head/meta[@name='description']/@content" ] }, "url" : "https://www.ar.ca/" } ``` ```json { "@context" : "https://schema.org", "@type" : "Organization", "alternateName" : "Ar", "logo" : "https://www.ar.ca/Logo.png", "name" : "Ar", "url" : "https://www.ar.ca/" } ``` ```json { "@context" : "https://schema.org", "@id" : "", "@type" : "LocalBusiness", "address" : { "@type" : "PostalAddress", "addressCountry" : "US", "addressLocality" : "New York", "addressRegion" : "CA", "postalCode" : "90066", "streetAddress" : "Los Angeles" }, "geo" : { "@type" : "GeoCoordinates", "latitude" : 33.9697897, "longitude" : -118.2468148 }, "image" : "https://www.ar.ca/hs-fs/hubfs/email-sig-logowhite.png?width=102&name=email-sig-logowhite.png", "name" : "Arca", "openingHoursSpecification" : { "@type" : "OpeningHoursSpecification", "closes" : "23:59", "dayOfWeek" : [ "Monday", "Tuesday", "Wednesday", "Thursday", "Friday", "Saturday", "Sunday" ], "opens" : "00:00" }, "priceRange" : "$", "sameAs" : [ "https://twitter.com/arca", "https://www.linkedin.com/company/arcafinance" ], "telephone" : "(424) 400 7444", "url" : "https://www.ar.ca/" } ``` ```json { "@context" : "http://schema.org", "@type" : "VideoObject", "description" : "Rebecca Rettig, General Counsel of Aave Marc Boiron, General Counsel of dYdX Colleen Sullivan, Co-founder and CEO of CMT Digital Marvin Ammori, CLO at Uniswap Phil Liu, Co-founder and CLO of Arca", "duration" : "PT50M59S", "embedUrl" : "https://www.youtube.com/embed/hTc-kWa9hM8", "interactionCount" : "121", "name" : "Regulation: Clarity on the Horizon", "thumbnailUrl" : "https://i.ytimg.com/vi/hTc-kWa9hM8/default.jpg", "uploadDate" : "2021-05-26T13:29:46Z" } ``` ```json { "@context" : "http://schema.org", "@type" : "VideoObject", "description" : "Andrew Peel, Head of Digital Asset Markets at Morgan Stanley Jennifer Murphy, COO of Western Asset Management Tom Jessop, President of Fidelity Digital Assets Tim Davis, Principal of Deloitte Subhanker Sinha, Head of Blockchain, Digital at BNY Mellon", "duration" : "PT47M54S", "embedUrl" : "https://www.youtube.com/embed/Wx1LEII47iM", "interactionCount" : "242", "name" : "The Current Institutional Adoption Wave", "thumbnailUrl" : "https://i.ytimg.com/vi/Wx1LEII47iM/default.jpg", "uploadDate" : "2021-05-26T15:15:41Z" } ``` ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Organization", "name" : "Ar" }, "dateModified" : "2021-07-12", "datePublished" : "2021-06-28", "description" : "Blockchain commentary and analysis written for sophisticated investors - by professional investors", "headline" : "We Should Appreciate Bitcoin More, but it’s Not Defensive", "image" : "https://f.hubspotusercontent00.net/hub/4536350/hubfs/Thats%20Our%20Two%20Sathoshis%20%2812%29-2.png?width=380&name=Thats%20Our%20Two%20Sathoshis%20%2812%29-2.png", "mainEntityOfPage" : { "@id" : "https://www.ar.ca/blog", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.ar.ca/hs-fs/hubfs/email-sig-logowhite.png?width=102&name=email-sig-logowhite.png" }, "name" : "Market Recap" } } ```