Benchmark has launched its analyst coverage of Securitize, framing the Miami-based fintech as a classic “picks and shovels” opportunity in the expanding ecosystem of asset tokenization. In a note released Tuesday, analyst Mark Palmer at Benchmark assigned a Buy rating and a $16 price target to the firm, which is preparing to list on Nasdaq through a planned merger with special-purpose acquisition company Cantor Equity Partners II.
Rather than betting on any single tokenized product or issuer, Palmer views Securitize as the essential infrastructure provider that stands to profit no matter which assets ultimately move onto blockchain networks.
The “picks and shovels” analogy, drawn from the California Gold Rush, highlights companies that supplied tools to prospectors rather than digging for gold themselves.
In today’s digital-asset landscape, Securitize plays an analogous role by delivering the full-stack technology, regulatory compliance tools, and operational backbone required to issue, trade, and service tokenized real-world assets (RWAs).
As more traditional securities—ranging from equities and bonds to funds and real estate—transition on-chain, the company earns recurring revenue at every stage of the asset lifecycle, from initial token creation through secondary trading and ongoing administration.
This positioning gives Securitize a compelling edge in a market projected to grow steadily.
The firm already commands roughly 70 percent of the U.S. tokenization market and powers high-profile offerings, including BlackRock’s approximately $1.7 billion tokenized treasury fund known as BUIDL.
Its platform handles everything from investor onboarding and KYC/AML checks to smart-contract deployment and secondary-market liquidity, effectively lowering barriers that have historically kept institutional capital on the sidelines of blockchain innovation.
Tokenization itself represents one of the most anticipated convergences between traditional finance and decentralized technology.
By converting ownership rights into programmable digital tokens, issuers can achieve fractionalization, 24/7 trading, instant settlement, and greater transparency—all while maintaining regulatory compliance.
Benchmark sees Securitize as a pure-play proxy for this shift, poised to capture value as the total addressable market swells.
Palmer emphasized the firm’s “massive disruptive potential” and its ability to build durable competitive advantages through blue-chip partnerships and institutional-grade infrastructure.
For investors, the coverage initiation offers a timely lens into how to gain exposure to the tokenization megatrend without having to select individual winners among issuers or underlying assets.
Securitize’s business model is inherently scalable: the more RWAs migrate on-chain, the greater the volume of fees flowing through its ecosystem.
As the merger advances and the company prepares for public trading, market participants will be watching closely to see whether Benchmark’s bullish thesis translates into sustained momentum.
Benchmark’s endorsement underscores Securitize’s strategic importance as the quiet enabler of tomorrow’s capital markets.
By focusing on the foundational rails of tokenization rather than any single headline asset, the company is positioned to thrive amid the sector’s expected multi-year expansion. This latest analyst move signals growing Wall Street recognition that the real winners in blockchain finance may actually be the infrastructure specialists quietly powering the revolution.
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