Securitize to Raise $400M in NYSE Debut Backed by BlackRock
BLK•BlackRock-backed Securitize expects to raise roughly $400 million in proceeds as it completes a SPAC merger and prepares to list on the New York Stock Exchange. The digital asset platform manages over $4 billion in assets under management, including a $2.4 billion tokenized money market fund for BlackRock.
1. SPAC Merger and NYSE Listing
Securitize is merging with Cantor Fitzgerald’s blank-check firm, with under 30% of SPAC shareholders redeeming their holdings to clear the way. The firm anticipates roughly $400 million in combined proceeds from the merger and private financing ahead of its NYSE debut under ticker SECZ.
2. AUM Growth and Major Products
Founded eight years ago, Securitize has grown AUM to over $4 billion, driven largely by its BlackRock BUIDL tokenized money market fund valued at $2.4 billion. The platform also serves institutional clients including Apollo, BNY Mellon, Hamilton Lane and KKR.
3. Implications for BlackRock
BlackRock’s early investment in tokenization and reliance on Securitize for its BUIDL product underscores its commitment to digital securities. This partnership positions BlackRock to capture fee revenue as tokenized assets gain wider adoption.
4. Tokenization Market Outlook
Tokenization is shifting from experimental to foundational market infrastructure as firms like the NYSE and DTCC develop blockchain-native systems. Regulatory developments, including a delayed SEC innovation exemption, will influence how quickly on-chain issuance scales.
