The Bitcoin-native company Twenty One Capital, supported by institutions, has begun trading publicly on the New York Stock Exchange under the ticker symbol XXI.
Co-founded by Jack Mallers, the company aims to become the largest publicly traded holder of BTC, with its listing in the U.S. on Tuesday following its business merger with Cantor Equity Partners.
Twenty One Capital holds 43,514 BTC, valued at approximately $3.9 billion, making it the third-largest publicly traded corporate holder of BTC globally, following Michael Saylor's Strategy and MARA Holdings.
"BTC is honest money. That's why people choose it, and that's why we built Twenty One on its foundation," Mallers stated on Monday as his company began trading.
In addition to providing investors with a channel for BTC investment, Twenty One Capital plans to develop a "corporate architecture" to support financial products built on BTC, including native lending models and capital market tools.
The company launched in April and early on received support from Cantor Fitzgerald, Tether, Bitfinex, and venture capital firm SoftBank. Notable supporters like U.S. financial services giant Cantor provide another layer of institutional endorsement for BTC, which has been dominated by institutions in market and trading activity this year.
Mitchell Askew, head of Blockware Intelligence, noted, "This is not an ordinary digital asset trust fund, where the main strategy is to hire thousands of fans to post bullish statements around the clock. The team supporting XXI has close ties with some of the most powerful institutions in the world."
Cantor is a primary dealer in the Federal Reserve led by the son of the Secretary of Commerce, Tether is a top stablecoin issuer and a major holder of U.S. Treasury securities, SoftBank manages $330 billion in assets, and Mallers founded Strike and comes from a prominent financial family.
According to data analysis from Arkham Intelligence, the company transferred its entire BTC reserves to a new wallet on Monday, possibly in preparation for its stock market debut.
According to recently released information, in addition to its asset accumulation strategy, the company plans to establish a series of "BTC-centric operational businesses" aimed at generating stable income and expanding institutional participation in the asset.
It will focus on developing educational content and brand media to support BTC literacy, as well as launching traditional financial service alternatives aligned with BTC principles, indicating that Mallers and his team are building a complete ecosystem, not just accumulating BTC.
Related: U.S. banking regulators approve national banks to engage in cryptocurrency trading.
Original: “Jack Mallers' Twenty One Capital Debuts on the NYSE”
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