Bitcoin Twenty One Capital, a financial-focused company, will begin trading on the New York Stock Exchange under the ticker “XXI” on December 9, a day after it is expected to complete its merger with special purpose acquisition company (SPAC) Cantor Equity Partners (CEP).
CEP shareholders approved the merger at a meeting on December 4, clearing the way for the company to go public. The deal is still subject to certain closing conditions.
The combined entity will retain the Twenty One Capital name and be led by Strike CEO Jack Mallers.
The company, which describes itself as “the first-ever Bitcoin-native company expected to go public,” plans to give investors public exposure to the largest cryptocurrency through its capital structure and business model.
Twenty One said its business will focus on “capital-efficient Bitcoin accumulation” and developing services related to the Bitcoin ecosystem. The company currently holds 43,514 Bitcoins worth $4 billion. This makes it the third largest holder among publicly traded companies, according to BitcoinTreasuries data. The largest is Strategy (MSTR), which holds 650,000 BTC.
The company has revealed in the past plans to introduce a “Bitcoin per share” metric that would allow investors to directly track their Bitcoin holdings, which would be audited in real time via on-chain proof of reserves. Tether and Bitfinex are the majority shareholders of the company.
Cantor Equity Partners is backed by Cantor Fitzgerald, a financial services firm with deep roots in investment banking and capital markets.
Read more: Strikes CEO Mallers to lead Bitcoin investment firm backed by Tether, SoftBank, Brandon Lutnick