Securitize's stock price has fallen 38% since 8 October, the day it launched tokenised versions of Apple, Nvidia and Tesla shares on Solana. The drop raises questions about real investor demand for tokenised equities, a market Wall Street and crypto firms are racing to build.
What actually happened
Securitize shares traded at $7.81 (USD) at 1:13pm ET on Thursday, down 15% on the day and 38% below the $12.66 close on 8 October, according to DL News. The stock rose 11% on launch day and 9% the next session, then fell 14% on 12 October and 13% on 16 October. Citi downgraded Securitize to neutral from buy on 13 October, citing uncertain tokenisation revenue and lock-up risk. The launch covers 12 US stocks, including Apple, Microsoft, Nvidia, Tesla, Meta and Palantir. Securitize said on X that 'eligible investors can hold tokenized positions backed 1:1 by actual shares, with shareholder rights intact.' The company has not disclosed trading volumes or holder numbers for the tokens.
How we got here
Securitize is not the first to tokenise US stocks on Solana. Wallets holding the xStocks Apple token on the network rose from about 15,400 in July to about 43,000 on 8 October, according to Solana Compass data. Solana handled 34% of tokenised stock trading last week, about $120 million a day, per Stakecake. The SEC's Innovation Exemption, issued on 17 September, allows new trading venues to offer tokenised stocks only if the tokens carry the same rights as underlying shares, excluding synthetic products. Robinhood's stock tokens, structured as debt securities, are not offered to US investors under this framework.
Why this matters for you
For Securitize investors, the share slide shows markets want proof of usage, not just a product launch. Without published volumes or holder counts, demand is hard to judge. For builders, the SEC exemption sets a stricter bar: tokens must mirror real shareholder rights, ruling out synthetic copies. For users hoping to trade tokenised equities around the clock, timing depends on issuer objections. Microsoft and Alphabet have already objected to tokenisation of their shares, The Wall Street Journal reported. That could delay or block some stocks from reaching venues like OKXICE, even as Solana based trading of other tokenised assets keeps growing.
The bigger question
If tokenised stocks carry the same rights as real shares, what is actually different for an investor? Securitize argues its tokens are full security entitlements, convertible into registered shares if issuers adopt tokenisation. But issuer objections, volume caps and thin early trading data suggest the model is still unproven. Does tokenisation change who can invest and how fast, or mostly change where the paperwork lives?
What to watch
OKXICE cannot launch trading before 3 November 2025 at the earliest, 30 days after its 4 October public notice, and has not set a date. The NYSE's planned 24/7 tokenised trading platform also has no launch date. Securitize, which listed on the NYSE in July, reports third quarter results in November. Those numbers may finally show how much demand its stock tokens have attracted.
