Bitcoin treasury company 21 Capital listed on the New York Stock Exchange tonight (stock code XXI), holding 43,000 BTC, becoming a new force on Wall Street
Twenty One Capital, a Bitcoin company built by giants such as Tether and SoftBank, will be listed on the New York Stock Exchange through a SPAC merger tonight, holding more than 43,000 Bitcoins and adopting self-custody.
(Preliminary summary: On the eve of the merger and listing of Twenty One Capital, Tether and SoftBank have raised more than 37,000 Bitcoins)
(Background supplement: Strive acquired 75,000 Bitcoins of "Mt. Gox Debt" at a low price, with the goal of establishing BTC reserves for listing)
Behind the scenes are stablecoin issuer Tether, Japan's SoftBank Group (SoftBank) and trading platform Bitfinex Twenty One Capital, an American Bitcoin company that is jointly supported by other heavyweight players and is CEO of Strike founder Jack Mallers, will complete a SPAC merger with Cantor Equity Partners before the market opens on December 9, Eastern Time, and will be officially listed on the New York Stock Exchange under the stock code XXI.
Twenty One expects to begin trading on the @NYSE under the ticker $XXI on December 9th.
As part of the closing process, we’ll be moving our over 43,500 bitcoin out of escrow and into our custody. We’ll update our proof of reserves accordingly.
Transparency is the standard. pic.twitter.com/kEyT5qWYY6
— Jack Mallers (@jackmallers) December 7, 2025
43,500 BTC and self-custody
It is understood that Twenty One currently holds approximately 43,500 BTC, with a market value of approximately US$4 billion (becoming the second largest corporate Bitcoin holder after Strategy). As part of the settlement process, the team has transferred 43,122 BTC of this amount from the third-party account to the company’s self-managed wallet. In the future, through the reserve certificate website, shareholders can instantly verify assets on the chain.
CEO Jack Mallers has long advocated for Bitcoin sovereignty. He said on the eve of listing:
Bitcoin is an honest currency, and we only do one thing: continue to increase the number of coins held per share.
Unlike Strategy and mining companies that still have software or mining revenue, XXI currently has no other operating businesses and focuses solely on currency holdings. Analysts judge that 21 Capital will develop a series of Bitcoin-native financial products and tools in the future, such as providing Bitcoin spot mortgage services for institutional customers, with the goal of filling the gap between crypto assets and current traditional financial services.
Tether holds the largest shares
Twenty One Capital’s shareholder list. Tether, the world’s largest stablecoin issuer, is its major shareholder, holding up to 51.7% of the voting rights. Today (3) Paolo Ardoino, co-founder of Tether, issued a message stating that the Bitcoin purchased by SoftBank has arrived.
Other significant investors include Japan’s SoftBank Group, cryptocurrency exchange Bitfinex and Wall Street investment bank Cantor Fitzgerald.
The company is co-led by Strike founder Jack Mallers and Brandon Lutnick, son of former Cantor Fitzgerald chairman Howard Lutnick.
