Speech tokenizers are foundational to speech language models, yet existing approaches face two major challenges: (1) balancing trade-offs between encoding semantics for understanding and acoustics for reconstruction, and (2) achieving low bit rates and low token rates. We propose Speech Diffusion Tokenizer (SiTok), a diffusion autoencoder that jointly learns semantic-rich representations through supervised learning and enables high-fidelity audio reconstruction with diffusion. We scale SiTok to 1.6B parameters and train it on 2 million hours of speech. Experiments show that SiTok outperforms strong baselines on understanding, reconstruction and generation tasks, at an extremely low token rate of $12.5$ Hz and a bit-rate of 200 bits-per-second.