Securitize CEO: Tokenized Stocks Could Top Crypto

Carlos Domingo, chief executive of Securitize, told an ETHConf panel in New York on June 9, 2026, that tokenized equities and ETFs — not Treasury bills or private credit — represent the asset class most likely to drive the RWA sector from its current scale to a $5 trillion market. Domingo drew a sharp distinction between instruments carrying direct ownership, voting rights, and dividend entitlements and synthetic derivatives that merely replicate price exposure, arguing that only the former would attract the institutional capital needed to move the needle at scale.

The arithmetic Domingo offered was deliberately conservative. The global stock and ETF market stands at approximately $150 trillion, and a migration of just 2% to 3% of that value onto blockchain-based platforms would, by itself, approach the $5 trillion threshold. "The entire equities and ETF market worldwide is probably like $150 trillion," Domingo said, according to CoinDesk's ETHConf coverage. "Only if a small percentage of that, like 2% or 3%, moves onchain, it gets you very close to that $5 trillion." The current tokenized RWA sector, excluding stablecoins, stood at approximately $19.32 billion as of March 31, 2026, having grown 256.7% over the preceding fifteen months from $5.42 billion in January 2025.

The gap between Domingo's projection and today's reality is sharpest in the equity segment itself. Tokenized stocks carried a combined market value of $486.69 million as of Q1 2026, while tokenized ETFs reached $297.50 million over the same period, according to the CoinGecko Q1 2026 RWA report. Both figures are a fraction of the tokenized Treasury market, which has drawn the bulk of institutional attention to date. Domingo's argument is that equities carry a broader retail and institutional appeal than government debt instruments, and that the regulatory infrastructure to support them is now largely in place — a claim grounded in Securitize's own recent compliance milestones.

On May 4, 2026, FINRA cleared Securitize Markets LLC as the first U.S. broker-dealer authorized to custody tokenized securities, settle them atomically against stablecoins, and underwrite tokenized IPOs and secondary offerings within its own alternative trading system. That authorization is directly relevant to the equity tokenization thesis: true onchain equities, as Domingo defined them at ETHConf, require a regulated custodian and a compliant settlement layer — precisely the stack Securitize now holds. Securitize has also announced partnerships with the New York Stock Exchange and transfer agent Computershare aimed at enabling onchain trading and settlement of equities, providing the market infrastructure that would be required before institutional issuers could participate at scale.

The company's institutional track record includes the March 2024 launch of BlackRock's BUIDL fund on Ethereum, which grew from $40 million at launch to over $1.8 billion onchain by late 2025. That trajectory — from a standing start to multi-billion-dollar scale in under two years — is the precedent Domingo cited implicitly when arguing that equities could follow a similar adoption curve once regulatory and technical barriers are removed. The broader RWA market, including stablecoins, exceeded $320 billion as of Q1 2026, with tokenized RWAs representing 6.4% of stablecoin market size, up from 2.7% in 2025.

Separately, Securitize is pursuing a $1.25 billion business combination with Cantor Equity Partners II, currently trading under the ticker CEPT with a planned conversion to SECZ, according to Phemex Academy. The transaction was disclosed as targeting completion in the first half of 2026; as of this article's publication date of June 10, 2026, Securitize has not issued a public announcement confirming the deal has closed, and no regulatory filing confirming completion has been identified in available sources.

The immediate concrete effect of Domingo's ETHConf remarks is to publicly anchor Securitize's strategic focus on equities and ETFs as the next major tokenization category, backed by the FINRA clearance obtained in May and the NYSE and Computershare partnerships already announced. What the remarks do not establish is which equity issuers are in active pipeline discussions with Securitize, what timeline the company has set for launching a live tokenized public stock on its alternative trading system, or whether the NYSE partnership has produced a signed agreement to list tokenized equities on any specific venue. The $5 trillion figure is a market-sizing exercise derived from a percentage assumption, not a disclosed commercial commitment from any issuer or exchange.