Jack Maller’s Twenty One Capital debuts on NYSE

cointelegraphPublished on 2025-12-09Last updated on 2025-12-09

Abstract

Twenty One Capital, co-founded by Jack Mallers, has begun trading on the New York Stock Exchange under the ticker XXI. The company holds 43,514 Bitcoin, valued at approximately $3.9 billion, making it the third-largest public corporate holder of BTC. Backed by institutions like Cantor Fitzgerald, Tether, Bitfinex, and SoftBank, Twenty One aims to become the largest publicly-traded Bitcoin holder. Beyond accumulation, it plans to develop Bitcoin-based financial products, educational content, and alternative financial services. The firm seeks to strengthen Bitcoin’s role in global markets and provide investors exposure to both Bitcoin’s value and business opportunities built on it.

Institutionally-backed Bitcoin native company Twenty One Capital has launched for public trading on the New York Stock Exchange under the ticker XXI.

The Jack Mallers co-founded company has the ambition of becoming the largest publicly-traded holder of Bitcoin (BTC), and its Tuesday US launch follows the completion of its business combination with Cantor Equity Partners.

Twenty One Capital holds 43,514 Bitcoin, worth roughly $3.9 billion, making it the world’s third-largest public corporate holder of the asset after Michael Saylor’s Strategy and MARA Holdings.

“Bitcoin is honest money. That’s why people choose it, and that’s why we built Twenty One on top of it,” Mallers said on Monday, the day his firm began trading.

“Listing on the NYSE is about giving Bitcoin the place it deserves in global markets and giving investors the best of Bitcoin: its strength as a reserve and the upside of a business 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 market instruments.

The company launched in April with early backing from Cantor Fitzgerald, Tether, Bitfinex and venture capital firm SoftBank. The big-name backers, such as American financial services giant Cantor, provide another institutional endorsement of the asset, which has seen markets and trading dominated by institutions this year.

Twenty One Capital aims to be major player

Mitchell Askew, head of Blockware Intelligence, said, “This isn’t your average DAT whose primary strategy is hiring a C-tier Bitcoin influencer with a few thousand followers to bull post 24/7. The groups backing XXI are connected with the most powerful institutions in the world.”

“Twenty One will be a major player not only in Bitcoin, but in the grand arc of financial history. NOBODY is bullish enough.”

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Cantor is a Federal Reserve Primary Dealer led by the sons of the Secretary of Commerce, Tether is the top stablecoin issuer and a major US Treasury holder, SoftBank manages $330 billion in assets, and Mallers founded Strike and comes from a prominent financial family.

On Monday, the company transferred its entire stash of BTC to a new wallet, according to Arkham Intelligence, potentially in preparation for the stock market debut.

*Twenty One Capital moves its BTC stash. Source: Arkham*

Twenty One Capital more than just a Bitcoin hodler

Alongside its accumulation strategy, the company plans to establish a set of “Bitcoin-centric operating businesses” aimed at generating recurring revenue and expanding institutional engagement with the asset, according to a recent release.

It will focus on educational content and branded media to support Bitcoin literacy, as well as the rollout of Bitcoin-aligned alternatives to legacy financial services offerings, suggesting that Mallers and co are building an ecosystem, not just accumulating BTC.

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