Key Takeaways
- Twenty One Capital, backed by SoftBank and Tether, will begin trading on the NYSE under the ticker “XXI.”
- The company is the third largest public corporate holder of Bitcoin and plans to grow through Bitcoin-centric financial services and products.
Share this article
Twenty One Capital, a Bitcoin-centric venture backed by Bitfinex and SoftBank Group, will start trading on the New York Stock Exchange today following the completion of its business combination with Cantor Equity Partners Inc.
Led by Jack Mallers, founder of Strike and a prominent Bitcoin advocate, Twenty One currently holds over 43,500 BTC valued at $3.9 billion. The company hit its BTC target ahead of the merger in just over three months, making it the third-largest corporate holder of Bitcoin.
“Bitcoin is honest money. That’s why people choose it, and that’s why we built Twenty One on top of it,” Twenty One CEO Jack Merchants said in a statement. “Listing on the NYSE is about giving Bitcoin the place it deserves in global markets and giving investors the best of Bitcoin: its strength as a reserve and the upside of a business built on it.”
The firm operates across Bitcoin-native financial services, capital markets advisory, lending, and educational media, all aimed at accelerating Bitcoin’s role in the global financial system.
Its capital strategy targets increasing Bitcoin per share while developing on-chain lending models and capital-market products. Alongside its treasury buildup, Twenty One expects to establish Bitcoin-focused operating lines that deliver recurring revenue and expand institutional exposure to the asset class.
The listing comes as shares in US and Canadian digital asset treasury companies have suffered steep declines, with a median drop of 43% and some falling more than 99%, per Bloomberg.
The downturn follows a period of rising equity values fueled by financing used to purchase crypto assets. The shift in investor sentiment reflects the non-yielding nature of token holdings and the growing strain of debt interest and dividend obligations.
