Securitize (SECZ), BlackRock's tokenization partner, falls 20% after earnings miss

Securitize (SECZ), BlackRock's tokenization partner, falls 20% after earnings miss

Markets

Securitize falls 20% after earnings miss as tokenization revenue falls short

Tokenized assets hit a record and trading activity jumped, but revenue slipped in the firm’s first earnings report since going public.

By

Krisztian Sandor

|

Edited by

Nikhilesh De

34 min ago

2

min read

Make

preferred on

Share

Share this article

Copy link

X icon

X (Twitter)

LinkedIn

Facebook

Email

Make

preferred on

Securitize co-founder and CEO Carlos Domingo (CoinDesk)

Summary

Show

Securitize shares fell 20% after hours on Wednesday after the tokenization firm reported a $2.37 per-share loss versus the $0.15 loss analysts expected.

Revenue fell 5% to $14.4 million, missing the $20.6 million consensus estimate, even as average tokenized assets under management reached a record $4.3 billion.

Transaction volume jumped 147% to $5.3 billion, showing growing activity as Wall Street pushes to bring funds, stocks and other assets onto blockchain rails.

Securitize (SECZ) shares plunged 20% in after-hours trading Wednesday after the tokenization firm fell short of Wall Street’s second-quarter expectations in its first earnings report since going public last month.

The company, best known for issuing and managing BlackRock’s BUIDL tokenized money-market fund,

reported

revenue of $14.4 million, down 5% from a year earlier and missing analyst estimates of $20.6 million.

Securitize posted a $2.37 per-share loss, compared with an expected loss of just $0.15 per share. Its net loss totaled $21.7 million, while adjusted EBITDA swung to a $5.5 million loss from a $1.8 million gain a year ago.

Wall Street has grown increasingly excited about tokenization, the effort to bring funds, equities and other financial assets onto blockchain rails. Securitize sits at the center of that push, but the growing interest has yet to materialize as sustained revenue growth.

CEO Carlos Domingo

called

the quarter “softer” when reporting earnings on Wednesday, while pointing to a stronger start to the year. First-half revenue remained 16% higher year-over-year, including a

record

$19.5 million in the first quarter.

Activity on Securitize’s platform grew despite the weaker financial results. Average tokenized assets under management reached a record $4.3 billion, up 16% from a year earlier, while transaction volume surged 147% to $5.3 billion. The company’s fund-services arm oversaw 663 active funds and $24.3 billion in assets under administration.

The company provides the infrastructure for asset managers to issue and manage traditional financial products such as funds as blockchain-based tokens. Its clients include BlackRock and KKR, putting the company near the center of Wall Street’s push to bring securities on-chain. BUIDL, launched with BlackRock in 2024, has grown into one of the largest tokenized Treasury and money-market products.

It is also working with the New York Stock Exchange on infrastructure for trading tokenized securities and has partnered with market-leading transfer agent Computershare to enable tokenized shares for U.S. issuers.

Wednesday’s report was Securitize’s first quarterly update as a publicly traded company after it merged with a Cantor-backed special purpose acquisition company in July.

Tokenization

Latest Crypto News

1

Morgan Stanley's infrastructure partner Zerohash rebuffed in pitch to be U.S. trust bank

49 min ago

2

Goldman Sachs leaps into bitcoin income ETFs with $2.25 billion NEOS buyout

5 hrs ago

3

Wintermute plans $1 billion AI push beyond crypto: Bloomberg

6 hrs ago

4

Kalshi taps DoubleZero for Wall Street-style high-speed data feed

6 hrs ago

5

Miden bets on privacy stablecoins with introduction of USDCx

8 hrs ago

6

Crypto Long & Short: When capital can't move fast enough, markets pay the price

8 hrs ago

7

Smart contract blockchain Solana nearly froze Wednesday, Marinade Finance says

9 hrs ago

8

Standard Chartered-led Anchorpoint launches Hong Kong dollar stablecoin

9 hrs ago

9

America doesn’t need a second-class payments system

10 hrs ago

10

U.S. CPI inflation slows to 3.4% as expected, bitcoin holds near $64,000

10 hrs ago

Latest Research

Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

By

CoinDesk Research

Jun 30, 2026

Commissioned by

GenZcash

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters

:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

View Full Report

More From

Markets

U.S. CPI inflation slows to 3.4% as expected, bitcoin holds near $64,000

Bitcoin holds near $64,000 as U.S. inflation data looms, Harmony exploit rattles altcoins

CoreWeave surges 16% on $2.58 billion revenue quarter as AI infrastructure demand eclipses crypto

Crypto

CD20

$1,734.06

CD20 down 0.76 percent

0.76%

BTC

$63,369.98

BTC down 0.28 percent

0.28%

ETH

$1,876.72

ETH down 0.21 percent

0.21%

XRP

$1.00

XRP down 1.84 percent

1.84%

SOL

$75.46

SOL down 1.01 percent

1.01%