Wall Street Prepares for Bitcoin's First Public Listing | US Crypto News

Welcome to your essential morning briefing from US Crypto News! Stay informed about the key developments in the cryptocurrency world as we dive into today’s headlines.

Key Takeaways

Merger Approval: Cantor Equity Partners' shareholders have approved the merger with Twenty One Capital, expected to finalize on December 8, 2025.
Public Listing: The newly formed company will operate under the name Twenty One Capital and begin trading on December 9, 2025.
Significant Bitcoin Holdings: Twenty One Capital currently possesses 43,514 BTC, valued at around $4 billion, making it the third-largest Bitcoin holder among publicly traded companies.
Innovative Tracking Metric: The firm aims to introduce a “Bitcoin Per Share” metric for shareholders to monitor real-time Bitcoin holdings with auditable proof.
Market Impact: The listing could alter investor access to digital assets and set the stage for other crypto-native companies seeking public exposure.

Brew a cup of coffee and get ready for an exciting moment on Wall Street: a company focused on Bitcoin is set to debut on the NYSE. Shareholders have green-lighted a significant merger that brings billions in Bitcoin together, marking a pivotal moment in the convergence of cryptocurrency and traditional financial markets.

Major Developments: Twenty One Capital Receives NYSE Approval

Cantor Equity Partners (CEP) shareholders have voted in favor of merging with Twenty One Capital, successfully navigating the last significant hurdle for the business combination. Following the completion of standard closing conditions, this deal is anticipated to finalize on December 8, 2025. The merged company will trade as Twenty One Capital starting on December 9.

Jack Mallers, CEO of Strike, will lead this new venture, with Tether and Bitfinex holding majority stakes. It positions itself as the first Bitcoin-native entity gearing up for a public listing, offering a regulated means for investors to engage with cryptocurrency.

The announcement revealed, “Upon completion, the combined entity will operate as Twenty One Capital, Inc., and its shares are expected to trade on the New York Stock Exchange (NYSE) under the ticker symbol XXI beginning December 9, 2025.”

Accessing Bitcoin through Public Equity amidst Market Challenges

Currently, Twenty One Capital manages 43,514 BTC, worth roughly $4 billion, making it the third-largest Bitcoin holder among publicly traded companies, right after Strategy and MARA Holdings.

The firm highlights its focus on "capital-efficient Bitcoin accumulation" and plans to introduce a “Bitcoin Per Share” metric. This new measure will allow shareholders to see real-time updates on Bitcoin holdings backed by verifiable on-chain proof-of-reserves.

“This listing offers a transparent and regulated route for investors to engage with Bitcoin without the need for direct asset ownership,” the company noted.

The NYSE listing also establishes Twenty One Capital as a crucial link between the crypto and traditional equity markets, potentially transforming investor access to digital assets.

“This provides investors with a fresh method of gaining BTC exposure through equity markets,” remarked Conor Kenny, a notable voice on social media.

This announcement emerges in the context of ongoing dialogues about the banking sector's ties to crypto businesses. In late November, Jack Mallers disclosed that JPMorgan Chase unexpectedly closed his personal accounts without explanation, sparking concerns about "debanking" within the crypto industry.

Tether CEO Paolo Ardoino perceived this as an opportunity for crypto leaders to operate free from centralized financial systems, stating, "I think it’s for the best."

Additionally, JPMorgan is scrutinizing potential MSCI reclassification rules that could significantly impact firms like MicroStrategy, which hold substantial Bitcoin assets. Analysts warn that changing index rules could lead to billions in passive fund outflows, possibly up to $9 billion for MicroStrategy.

As Twenty One Capital moves toward its December 9 trading debut under the “XXI” ticker symbol, market watchers will be keen to gauge trading volumes, investor interest, and the response to its Bitcoin-per-share metric. This listing has the potential to set a benchmark for other crypto-native companies looking for regulated market visibility, which could broaden participation from both institutional and retail investors in the Bitcoin landscape.

Chart of the Day

Twenty One Capital (XXI) Bitcoin Holdings. Source: Bitcoin Treasuries

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