Securitize Corp. received coverage initiation from Cantor Fitzgerald on September 21, with the investment firm assigning an Overweight rating and establishing a $21.20 price target for the stock. The analysis centered on the company’s positioning within the emerging market for tokenization of traditional financial assets, which remains in early adoption stages. Cantor Fitzgerald noted that traditional financial assets globally are valued at approximately $319 trillion, with only about $39 billion currently existing onchain—representing just 0.01% of the total addressable market. Despite the relatively small current footprint, onchain assets have nearly tripled over the past 12 months, even as the broader crypto market capitalization declined from about $4 trillion to less than $2.2 trillion.
Securitize obtained regulatory approval from five different regulators over seven years, resulting in what Cantor Fitzgerald characterized as the broadest combination of licenses and technical integrations within the tokenization category. The firm described tokenization as the most significant overhaul of financial infrastructure in the past century, with Securitize appearing attractively valued at prevailing market levels based on sector outlook.
Securitize began trading on the New York Stock Exchange on July 2, marking the first public offering of a tokenization company. The platform currently manages approximately $5 billion in assets onchain, including more than seven assets individually exceeding $100 million in assets under management. During the second quarter of 2026, average tokenized assets under management increased 16% year-over-year. However, total revenue declined 5% year-over-year to $14.4 million, and net loss widened significantly to $21.69 million from $6.15 million in the prior-year period. Adjusted EBITDA moved into negative territory at a loss of $5.5 million, compared with positive adjusted EBITDA of $1.8 million a year earlier.
The company stated it remains focused on revenue growth through investment in operations, capability strengthening, and exploiting emerging opportunities. Management identified achieving positive adjusted EBITDA in the near term as an important objective as the company scales as a public entity. Securitize’s financial results demonstrate that asset growth has not yet translated into improved quarterly revenue and profitability, positioning the stock as a higher-risk bet on sector potential rather than a current earnings performer.
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