The research argued that flexibility opens new markets for trading platforms, lenders, stablecoin issuers and companies that handle securities ownership records. And the biggest winners may be the companies and crypto projects collecting fees from all that activity, the report said.
“We can’t assume that majors, primarily $BTC and $ETH, will make new ATHs on this,” the report said, referring to all-time highs. “Even if they do, there are better expressions.”
Stock picks for playing tokenization
To identify opportunities, Citrini proposed two investment baskets, one focused on publicly traded stocks and another on crypto tokens.
The report was particularly interested in businesses that stand to earn fees as more of Wall Street moves onchain.
It highlighted tokenization firm Securitize (SECZ), which maintains the legal link between blockchain tokens and the securities they represent.
Crypto exchange Coinbase COIN$174.87 and digital brokerage Robinhood HOOD$107.87 offer exposure through their trading platforms and blockchain infrastructure, while stablecoin issuer Circle CRCL$80.71 could benefit from greater demand for its USDC stablecoin to settle transactions, the report said.
Citrini also mentioned Figure Technology Solutions (FIGR) for tokenized lending, SoFi SOFI$15.55 for stablecoin payments, and institutionally focused digital asset exchange operator Bullish BLSH$31.49, CoinDesk’s parent company, which is acquiring share registrar Equiniti.
Crypto tokens benefitting from tokenization
Citrini said it was “actually more excited” about its separate crypto-token basket, which it said offers broader exposure than the limited universe of listed companies.
