Securitize Capital LLC, a unit of the publicly traded tokenization firm Securitize, has registered with the U.S. Securities and Exchange Commission as an investment adviser. The registration became effective on July 22 and was announced on July 27, expanding the company’s ability to support institutional clients with tokenized investment products.

Previously operating as an exempt reporting adviser in Florida since March 2023, the subsidiary faced limits that generally confined it to advising venture capital funds or private funds holding under $150 million in U.S. assets. Full SEC registration lifts those restrictions while imposing greater disclosure, compliance, recordkeeping and examination obligations under the Investment Advisers Act of 1940.

The company stated that the new status does not constitute an SEC endorsement or signal any particular skill level. Through Securitize Capital, the firm said it is adding advisory capacity to help institutions develop and manage strategies designed for onchain financial systems.

Complete Regulated Service Stack

With the adviser registration, Securitize’s U.S. operations now combine four regulated functions: an SEC-registered investment adviser, an SEC-registered broker-dealer that operates an alternative trading system, an SEC-registered transfer agent, and fund administration services. In May, FINRA also approved Securitize Markets to custody tokenized securities and support atomic settlement.

This integrated structure positions the firm to engage more directly with asset managers building onchain vaults, lending products and portfolio strategies. Securitize reported more than $5 billion in assets under management as of July, encompassing products linked to BlackRock, Apollo, BNY, Hamilton Lane, KKR and VanEck. BlackRock’s BUIDL tokenized Treasury fund accounts for approximately $2.6 billion of that total. Other reports place the firm’s tokenized assets near $4.8 billion across the same group of managers.

Securitize has also developed permissioned lending vaults with Euler that allow tokenized holdings such as VanEck’s VBILL fund to serve as collateral while preserving investor eligibility rules. The firm is collaborating with the New York Stock Exchange on infrastructure for a planned tokenized securities platform and earlier formed a partnership with Cantor to incorporate blockchain tools into IPO and follow-on equity offerings.

Market and Competitive Context

Securitize began trading on the New York Stock Exchange under the ticker SECZ on July 2 following a business combination with Cantor Equity Partners II that raised about $400 million in gross proceeds. The company also tokenized its own shares on the listing date. On July 27, SECZ shares fell nearly 10 percent to about $6.76, bringing the market capitalization to roughly $1 billion. Since the debut, the stock has declined approximately 40 percent to 46 percent from its first-day close.

Separately, Citi analyst Peter Christiansen initiated coverage with a Buy rating and a $10 price target, citing the firm’s role in real-world asset tokenization while noting risks tied to dependence on the BUIDL fund, interest-rate sensitivity and the pace of higher-margin transaction revenue growth. Hanwha Group holds the largest stake at 9.6 percent, or 15.69 million shares, according to SEC filings.

Other firms have also entered the registered-adviser space. Coinbase and Kraken have introduced SEC-registered advice platforms that incorporate artificial intelligence, while Galaxy Digital has long operated a registered investment adviser unit. In December 2025, Anchorage Digital acquired Securitize For Advisors, the wealth-management platform Securitize previously built for registered investment advisers.

Regulatory Backdrop

The registration arrives shortly after SEC Commissioner Hester Peirce cautioned that certain crypto vaults and onchain lending strategies could trigger investment adviser obligations depending on their structure and management. Curated vaults currently hold about $8.6 billion in assets. Securitize’s full registration places it under the same regulatory framework that the commissioner urged market participants to engage with as they develop compliant products.

The company continues to expand from tokenized fund issuance into portfolio management and public-market settlement while maintaining its existing licenses. Registration subjects Securitize Capital to ongoing SEC oversight consistent with traditional investment advisers serving institutional clients.