Securitize's asset-management subsidiary, Securitize Capital, has registered with the SEC as an investment adviser, stepping up from an exempt reporting adviser to full regulatory oversight — public disclosure, compliance and periodic exams.

The status lets it work directly with asset managers and institutions on tokenized investment strategies. It becomes a fourth regulated pillar alongside Securitize's broker-dealer/ATS, transfer-agent and fund-administration arms.

"Asset managers and institutional investors want to work with partners that understand both the opportunity of tokenization and the obligations that come with operating in regulated markets," said Securitize CEO Carlos Domingo.

Securitize tokenizes more than $5B in assets — including BlackRock's ~$2.6B BUIDL fund — and works with Apollo, KKR and VanEck. Its recently listed stock (NYSE: SECZ) slipped on the day.