BlackRock's Tokenization Partner Goes Public Today
Hey!
Just got back from a hike. I live a few minutes down the road from the best track in the region.
I still remember JC telling me, "Louis, you NEED to be in America." And I made the call to stay in New Zealand anyway.
It put me a long way from the action. It's also one of the best decisions I've made.
Because that's the exact approach I bring to markets. Right now every man and his dog was pointed at the SpaceX IPO and now it's the Anthropic and OpenAI offerings everyone's convinced are coming next.
I'm doing what I did with New Zealand, looking where nobody else is. That's almost always where the real opportunity is hiding.
Yesterday I wrote about Washington's plan to use tokenization to get the entire world hooked on U.S. Treasuries, the quiet front in its capital war with China. That one lit up my inbox with your replies, so I'm making it a focus over the coming weeks.
I ended that piece with a handful of the companies actually building the plumbing for it.
One of the most important goes public today.
It's called Securitize, and it starts trading under the ticker SECZ.
Securitize is the company BlackRock chose to bring its tokenized treasury fund onto these new rails. I think it becomes one of the defining winners of this shift over the next several years.
But here's the thing.
I'm not buying it today.
Same as I said about SpaceX: I expect the stock to fall more than 50% from wherever it opens. That's not a knock on the business. It's just how these debuts tend to go.
The people bringing a company to market are incentivized to price it as high as they possibly can. You, the regular investor, want in as low as you can. Those two interests point in opposite directions which is exactly why the smart way to play a hot listing is to let it have its first pop, watch it crater, then step in 6 to 18 months later when everyone's stopped paying attention.
That's the whole game: right company, wrong moment. Get the timing right, and these are the positions that can define a decade.
That timing piece is a big part of what I think about. Which names are actually building the rails, and then when to step in. I bought my highest-conviction name in this space back in December, the day before the SEC cleared $100 trillion in securities for tokenization, and it's up 101% since (142% from its peak).
I write all of it up in The Tokenization Report including the model portfolio, the full watchlist, and a live call every Thursday where I basically think out loud with members. If you've been reading these and wanting the actual names behind them, that's where they live.
I don't run sales often, but it's the 4th, so I've knocked the price down for a few days, $250 for the quarter or $750 for the year, and the annual rate stays locked in for as long as you're around. There's a 30-day guarantee, so if it's not for you, no harm done.
Either way, talk soon.
