TheBlock
Securitize, the tokenization platform behind BlackRock's $3B+ BUIDL fund, is targeting an early July NYSE listing via a SPAC merger worth roughly $400 million. The company will retain more than 70% of the SPAC trust, keeping the bulk of the capital on its balance sheet post-close.
Why it matters
BUIDL, BlackRock's tokenized U.S. Treasury fund issued on Securitize's rails, has scaled past $3 billion in assets since launching in 2024. That makes Securitize the infrastructure layer behind the single largest TradFi tokenization pilot live today, and the NYSE debut is the first time public-market investors get direct exposure to that stack.
Market impact
A listing of the dominant tokenization rail legitimizes the RWA category at the institutional level and creates a benchmark for valuing competing infrastructure plays. Watch for follow-on moves from peers still private, and for whether TradFi issuers start treating tokenized fund infrastructure as a procurement decision rather than an R&D experiment.
Frequently asked questions
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What is Securitize planning to do?
Securitize is targeting an early July NYSE listing via a SPAC merger worth roughly $400 million, retaining more than 70% of the SPAC trust post-close.
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How large is BlackRock's BUIDL fund?
BUIDL, BlackRock's tokenized U.S. Treasury fund issued on Securitize's platform, has scaled past $3 billion in assets since launching in 2024.
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Why does the listing matter for the RWA sector?
Securitize is the infrastructure layer behind the largest TradFi tokenization pilot live today, so a public listing legitimizes the RWA category at the institutional level and creates a benchmark for valuing competing infrastructure plays.
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How much capital does Securitize keep after the merger?
The company will retain more than 70% of the SPAC trust, keeping the bulk of the capital on its balance sheet following the NYSE debut.
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When is the Securitize NYSE debut expected?
Securitize is targeting an early July NYSE debut, pending completion of the SPAC merger process.
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