Benchmark has initiated coverage of Securitize, a tokenization infrastructure platform, with a "Buy" rating and a $16 price target. The investment bank highlights Securitize as a "picks and shovels" play in the burgeoning tokenization sector, emphasizing its comprehensive business model that spans the entire lifecycle of tokenized assets. Securitize currently commands about 70% of the U.S. tokenization market and collaborates with major firms like BlackRock, managing a BUIDL fund of approximately $1.7 billion. Securitize is poised to go public through a merger with Cantor Equity Partners II, with plans to list on Nasdaq under the ticker SECZ. Benchmark underscores the transformative potential of tokenization in capital markets, akin to the shift brought by electronic trading, while noting that regulatory clarity remains crucial for further adoption.