The market capitalization of Securitize (SECZ) tokenized shares dropped to $208.6 million. This figure represents a decline from a peak of $430.4 million recorded on September 28. On the New York Stock Exchange, the company's shares closed at $7.80, marking a 2.1% decrease and resulting in a total market capitalization of $1.27 billion.
In contrast, tokens tracking Circle (CRCL) shares increased by approximately 20% since September 28, reaching a combined value of $383.6 million. This growth allowed Circle to reclaim the leading position within the $3.3 billion tokenized equities market. The CRCLb product on the BNB Chain, issued by Binance, currently leads these offerings with a value of $154.1 million.
The decline in SECZ token value follows a broader sell-off of Securitize shares on the NYSE, which offset gains achieved after the October 8 launch of its stock trading platform on Solana. Additionally, on October 13, Citi downgraded the company's stock from Buy to Neutral, citing concerns regarding revenue generated from tokenization activities.
Securitize, which assists asset managers such as BlackRock in issuing blockchain-based securities, brought its own common shares onchain during its July 2 NYSE listing. At that time, it became the largest tokenized equity. Despite the recent drop in market cap, SECZ remains the largest individual tokenized stock, as the Circle total is distributed among multiple issuers.
