Twenty One Capital lists on NYSE with 43,500 BTC

Twenty One Capital has officially gone public on the New York Stock Exchange under the ticker “XXI”, following the completion of its merger with Cantor Equity Partners, a SPAC sponsored by an affiliate of Cantor Fitzgerald. The company enters public markets holding over 43,500 BTC, making it one of the largest corporate holders of Bitcoin worldwide.

The structure of the company was designed with a Bitcoin-first mandate: investors receive equity in a firm that holds and accumulates Bitcoin, while building out Bitcoin-native financial services.

Majority ownership is held by Tether and Bitfinex, with SoftBank Group as a significant minority shareholder. The company raised an additional $585 million in private investment to acquire more BTC and fund operations, comprising $385 million in convertible notes and $200 million in common equity.

The firm is led by CEO Jack Mallers, founder of Strike. In a public statement, Mallers said, “Our mission is simple: to become the most successful company in Bitcoin. This company is built by Bitcoiners, for Bitcoiners.”

As part of the listing process, Tether transferred over 43,500 BTC, worth around $3.95 billion at the time, from escrow into Twenty One’s custody. The transfer was confirmed on-chain and described as administrative, not a market sale.

Twenty One plans to build a broader ecosystem of Bitcoin-native services, including lending, capital markets advisory and educational media. Its internal performance metrics, Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR), reflect its goal to measure success in Bitcoin terms, rather than fiat profits.

While these business lines are in development, the company already offers a new model of public-market exposure to Bitcoin. With institutional backers and transparent custody, Twenty One may serve as a template for future corporate Bitcoin structures.