When it comes to the digitalization of real world assets, things just got real.
Securitize, the blockchain-based platform behind BlackRock’s tokenized money market fund, is going public through a SPAC merger. And with this, we are witnessing one of the first major public listings in the world of real world asset (RWA) tokenization.
Some examples of real-world assets that are now being tokenized include:
- US Treasuries
- Money Market Funds
- Real Estate
- Private Credit and Loans
- Commodities
- Precious Metals
- Art and Collectibles
Now, if your eyes just glazed over at the phrase “real world asset tokenization,” don’t worry – this is not some NFT sideshow. This is just Wall Street getting a legitimate digital backbone.
You see, tokenized assets can settle in seconds, rather than days. They can be traded 24/7. They can reduce costs for asset managers, improve auditability, and open up previously illiquid markets – such as private credit, venture capital, and even infrastructure – to a wider investor base. And Securitize is one of the few companies that’s already laid the groundwork to facilitate the movement of trillions of dollars worth of tokenized assets. That’s why this matters.
Worth noting: a 2022 report from Boston Consulting Group pegs the value of the tokenized asset market at an estimated $16.1 trillion by 2030. That’s less than five years from now.
This ain’t pocket change
Securitize’s decision to go public through a SPAC actually makes strategic sense. Traditional IPOs can take months and subject a company to volatility that’s out of its control. SPACs, when done right, offer a faster route to liquidity and visibility. And in this case, it’s poetic: a company that digitizes traditional finance is using a nontraditional vehicle to go public.
Still, you should tread lightly. SPACs have been through the ringer over the past few years. Many overpromised and underdelivered. But one thing Securitize has that a lot of other SPACs didn’t is high-level partnerships and clients, and of course, actual revenue.
In 2024, the company generated $19 million in revenue, and 2025 revenue projections are clocking in at $69 million. But here’s the rub: This SPAC merger is expected to value Securitize at $1.25 billion. That ain’t pocket change!
This deal has been structured to generate more than $460 million in gross proceeds. Existing shareholders, which include BlackRock, Morgan Stanley and ARK Invest will roll 100% of their interest in the new public company. This means legacy investors won’t be cashing out at closing. A huge vote of confidence, to be sure.
We expect the deal to close in Q1, 2026, with Securitize trading under the symbol “SECZ” on the Nasdaq.
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