Securitize has launched tokenized versions of 12 U.S. stocks on Solana, using a structure that gives investors a regulated security entitlement backed one-for-one by underlying shares and creates a future route to direct registration if the companies themselves adopt tokenization.The initial lineup includes Apple, Microsoft, Nvidia, Alphabet, Tesla, Meta, Amazon, Netflix, Circle, SpaceX, Strategy and Palantir. Eligible investors in the United States, European Union and other permitted jurisdictions can access the products through Securitize Markets, the company’s registered broker-dealer. Transactions settle in USDC, with Jump Trading providing liquidity through Securitize’s Solana-based PropAMM. Trading initially covers extended U.S. market hours, with Securitize planning to move toward 24/7 availability. What Do Securitize Stock Tokens Actually Represent? The legal structure is the most important part of the launch. Securitize calls each instrument a Convertible Entitlement Token, or CET. Every token is backed by one underlying share and represents a security entitlement under Article 8 of the Uniform Commercial Code. That structure is designed to preserve the applicable economic and shareholder benefits of the underlying security, including dividends and voting rights where the share class provides them. Securitize also says the shares backing the tokens will not be lent out. There is still a distinction between an entitlement and being directly recorded on Apple’s, Nvidia’s or another issuer’s shareholder register. CET holders are not registered shareholders of the underlying companies unless they convert, and the companies represented by the initial tokens have not sponsored or endorsed the products. That contrasts with some existing tokenized-stock structures that primarily provide economic exposure without voting rights or direct legal ownership of the underlying shares. Investor Takeaway Securitize’s tokens go beyond price exposure, but investors hold a regulated security entitlement rather than appearing directly on each company’s shareholder register. How Can the Tokens Become Directly Registered Shares? The “convertible” element is designed as a bridge to issuer-sponsored tokenization. If an underlying company later chooses to tokenize its shares through Securitize, CET holders could convert their entitlements into shares recorded directly on that issuer’s official register through Securitize’s transfer-agent infrastructure. That model addresses one of the central questions facing the tokenized-equity market: whether blockchain products should merely track traditional stocks or become another technological form of the same legally recognized security. An industry coalition formed in September around issuer-sponsored tokenization is pursuing a similar objective, arguing that onchain shares should remain connected to official shareholder records, corporate actions, dividends and voting rights. Securitize has already demonstrated the issuer-sponsored model with its own shares. When SECZ began trading on the NYSE in July, the company also made tokenized SECZ available on Solana and Avalanche as representations of the same common stock rather than a separate synthetic instrument. Can Tokenized Stocks Move Toward 24/7 Trading? For now, Securitize Stocks will trade during extended market hours. The company plans eventually to support round-the-clock trading and expects the securities to become available through the planned NYSE digital market and the OKXICE Tokenized Securities Venue. Neither venue has launched, and trading there remains subject to regulatory approval and operational requirements. The NYSE is developing a platform intended to support 24/7 trading, immediate settlement and stablecoin-based funding for tokenized securities. The SEC has also created a five-year Innovation Exemption that provides qualifying venues with a route to experiment with onchain trading of U.S.-listed securities. The current Securitize offering does not depend on that exemption: the company says secondary trading is being conducted through its regulated broker-dealer under existing securities rules. The tokens could later become eligible for venues operating under the new exemption. Investor Takeaway The bigger test is whether tokenized stocks can add 24/7 liquidity and faster settlement without separating trading from the ownership protections of U.S. equities. Why Does the Launch Matter for the Tokenized-Stock Market? Tokenized stocks have already surpassed $3 billion in distributed onchain value, according to RWA.xyz, but that total combines products with materially different legal structures and investor rights. Securitize is betting that regulated ownership infrastructure will become a competitive differentiator as the market expands. Its May partnership with Jump Trading and Jupiter established the liquidity and distribution layer for onchain equities, while subsequent agreements with major transfer agents have focused on connecting blockchain holdings with conventional shareholder records. The distinction may become more important as U.S. regulators open the domestic market. The SEC’s tokenized-securities exemption requires qualifying structures to preserve shareholder rights, pushing the market away from simple synthetic stock trackers. Securitize’s CET structure occupies an intermediate position: the tokens are backed by actual shares and carry applicable economic and governance rights, but direct issuer registration remains a future conversion step. Whether major public companies ultimately agree to sponsor that conversion will determine how far the model moves from tokenized brokerage ownership toward truly issuer-native onchain equities.
