Securitize shares fall 38% since Apple, Nvidia token launch on Solana

Securitize shares traded at $7.81 at 1:13pm ET on Thursday, down 15% on the day and 38% below the $12.66 close on 8 October, when it announced Securitize Stocks.

The decline is 43% from the following session's $13.82 close, according to Yahoo Finance data reported by DL News.

The launch put 12 US stocks onchain, including Apple, Nvidia, Tesla, Microsoft, Alphabet, Meta, Amazon and Netflix.

Securitize said on X that eligible investors can hold tokenized positions backed 1:1 by actual shares, with shareholder rights intact.

The tokens trade on Securitize's own broker-dealer platform on Solana, with Jump Trading as market maker and settlement in USDC.

Trading runs in extended hours for now, and Securitize says it plans to move to 24/7.

Each token is a security entitlement backed 1:1 by an actual share. It carries dividends and, where they apply, voting rights, and investors may be able to convert tokens into registered shares if an issuing company adopts tokenization.

Securitize has not published trading volumes or holder counts for the tokens.

Solana Compass, which tracks tokens on the network, said the tokens did "not yet appear" in its data.

The release also did not define which investors are eligible, beyond saying access is subject to KYC checks and "jurisdictional eligibility".

Citi downgraded the stock to neutral from buy on 13 October, CoinDesk reported.

The bank cited questions over how much revenue Securitize can earn from tokenization and the risk of lock-up expiries adding shares to the market.

The SEC's Innovation Exemption, issued on 17 September, lets new venues trade tokenized stocks only if they carry the same rights as the underlying shares; synthetic products are excluded.

Robinhood's stock tokens are debt securities and are not offered in the US, and its crypto chief, Johann Kerbrat, told The Block that the exemption's volume caps would bite.

Securitize expects the tokens to trade on OKXICE, a venue jointly owned by NYSE parent ICE and OKX, and on the NYSE's planned 24/7 platform.