Securitize Shares Fall 40% Since SPAC Merger but Recover Some Losses

Securitize shares have fallen about 40% since the company completed its SPAC merger with Cantor Equity Partner II last week. The stock tumbled as much as 25% on Tuesday before recovering some of the losses. Securitize went public through the merger and is backed by BlackRock.

The decline occurred even as major financial firms have expanded tokenization efforts for assets such as U.S. Treasuries and equities. Jeff Dorman, chief investment officer at Arca, said no major negative fundamental catalyst was visible.

He attributed the moves to typical SPAC mechanics, in which fixed-income-oriented buyers give way to long-term equity investors. Dorman noted that recent crypto-related listings have also declined sharply. BitGo has fallen 70% since its February IPO, Gemini is down 85% from its September debut, and Bullish has dropped more than 70% from its $90 August 2025 debut price.

Circle shares remain more than double their $31 IPO price but sit 77% below their June 2025 peak. Coinbase trades 56% below its April 2021 direct-listing opening price. On Tuesday, CRCL fell 5%, BTGO declined more than 4%, and Figure dropped nearly 8.8%.

The tech-heavy Nasdaq lost 2% the same day.