In brief
- Bitcoin treasury firm Twenty One Capital is set to begin trading on the New York Stock Exchange on December 9.
- The company is a collaborative venture between Tether, Bitfinex, Cantor Fitzgerald, and SoftBank.
- Twenty One is set to begin trading with about $4 billion worth of Bitcoin in its treasury.
Bitcoin treasury firm Twenty One Capital, Inc. has received shareholder approval for its business combination with Cantor Equity Partners (CEP), with CEP shareholders voting in favor of the proposed merger and all related proposals.
The transaction is expected to close around December 8, pending completion of closing conditions outlined in regulatory filings with the SEC. Upon completion of the business combination and associated PIPE financing, the merged entity will operate under the Twenty One Capital name.
The company’s Class A common stock is anticipated to begin trading on the New York Stock Exchange on December 9, using the ticker symbol XXI. Twenty One Capital has branded itself “the first-ever Bitcoin-native company that expects to be publicly listed.”
“Game on. See you at the NYSE on Tuesday,” Twenty One CEO and co-founder Jack Mallers posted on X.
In July, Twenty One Capital announced it will hold about 43,500 BTC—currently worth approximately $4 billion—when it begins trading, following an addition of 5,800 BTC from stablecoin giant Tether. This positions the firm as potentially the third-largest corporate Bitcoin holder, behind only Strategy and Bitcoin miner MARA.
Twenty One, which was first announced in April, is a collaborative venture between Tether, Bitfinex, Cantor Fitzgerald, and SoftBank. The company’s name refers to Bitcoin’s total possible supply of 21 million coins, with about 19.95 million BTC mined to date.
Cantor Equity Partners stock surged Thursday following the late Wednesday announcement, recently up about 22% to a price of $14.50. Even so, CEP remains down about 66% over the last six months after spiking in April following the announcement of the proposed merger.
Bitcoin is up about 2.5% on the week, recently trading above $93,000 after rebounding from a dive below $85,000 on Monday. BTC has fallen sharply over the last two months since setting a new all-time high mark above $126,000 in early October, currently down 26% from that peak.
Traders on Myriad—a prediction market platform operated by Decrypt’s parent company, Dastan—currently give a 76% chance that Bitcoin will rise to a price of $100,000 sooner than it can plunge to $69,000, a level not seen in more than a year.
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