Institutionally backed bitcoin parent company Twenty One Capital has launched public trading on the New York Stock Exchange under the symbol XXI.
The company co-founded by Jack Mallers has ambitions to become the largest publicly traded holder of Bitcoin (BTC), and its US launch on Tuesday follows the completion of a business combination with Cantor Equity Partners.
Twenty One Capital holds 43,514 Bitcoins, worth approximately $3.9 billion, making it the third largest public corporate holder of the asset after Michael Saylor Strategy and MARA Holdings.
“Bitcoin is fair money. That’s why people choose it and that’s why we built Twenty One on it,” Mallers said on Monday, the day his company began trading.
“Listing on the NYSE means giving Bitcoin the place it deserves in global markets and giving investors the best of Bitcoin: its power as a reserve and the advantage of businesses built on it.”
In addition to offering investors exposure to Bitcoin, Twenty One Capital intends to develop a “corporate architecture” that supports financial products built with and on Bitcoin, including native lending models and capital markets instruments.
The company launched in April with early backing from Cantor Fitzgerald, Tether, Bitfinex and venture capital firm SoftBank. Big-name backers, such as US financial services giant Cantor, provide another institutional boost to the asset, whose markets and trading have been dominated by institutions this year.
Twenty One Capital aims to be a major player
Mitchell Askew, Head of Blockware Intelligence, he said“This is not your average DAT whose primary strategy is to hire C-tier Bitcoin influencers with several thousand followers to post 24/7. The groups supporting XXI are connected to the most powerful institutions in the world.”
“Twenty One will be a major player not only in Bitcoin, but in the great arc of financial history. NOBODY is optimistic enough.”
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Cantor is the primary Federal Reserve dealer run by the sons of the Secretary of Commerce, Tether is the largest stablecoin issuer and major owner of US Treasuries, SoftBank manages $330 billion in assets, and Mallers founded Strike and comes from a prominent financial family.
On Monday, the company transferred its entire BTC supply to a new wallet, according to for Arkham Intelligence, potentially in preparation for a stock market debut.
Twenty One Capital is more than just a Bitcoin hodler
In addition to its accumulation strategy, the company plans to establish a series of “bitcoin-focused operating businesses” with the goal of generating ongoing revenue and expanding institutional engagement with the asset, according to until the recent edition.
It will focus on educational content and branded media to support Bitcoin literacy, as well as introducing Bitcoin-compliant alternatives to legacy financial services, suggesting that Mallers and co are building an ecosystem, not just hoarding BTC.
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