Benchmark has initiated coverage of Securitize, describing it as a tokenized "shovel seller" asset.

Investment bank Benchmark initiated coverage of tokenized infrastructure platform Securitize with a "Buy" rating and a $16 price target, positioning it as a "picks and shovels" opportunity in the tokenization wave. The analysis points out that Securitize's business model revolves around the entire lifecycle of tokenized assets, covering issuance, trading, and services, enabling it to generate continuous revenue as the industry scales, without relying on the success of a single asset or product. Benchmark believes that tokenization is one of the most profound changes in capital markets since electronic trading, and Securitize is at the heart of this trend. The company currently holds approximately 70% of the US tokenization market share and partners with large asset management institutions such as BlackRock, with its BUIDL fund totaling approximately $1.7 billion. Securitize plans to go public through a merger with Cantor Equity Partners II, and the merged entity is expected to trade on Nasdaq under the ticker symbol SECZ. The analysis also points out that despite strong industry momentum, the further adoption of tokenization still depends on continued clarity in the regulatory environment.