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A financial services firm specializing in bitcoin has officially debuted on the Nasdaq, becoming one of the select few public entities in the sector.
The company, known as Fold, announced its merger with FTAC Emerald Acquisition Corp. last July as part of its strategy to go public.
In December, Fold successfully completed a financing round, raising $20 million through a convertible note from ATW Partners. This financing was secured in part by the company’s bitcoin reserves, amounting to approximately 1,000 BTC, and is set to mature three years after Fold’s public debut.
Today marks a significant milestone as Fold shares are scheduled to begin trading on the Nasdaq following the approval of its deal with FTAC. Founded in 2019, Fold allows users to earn BTC via its rewards program.
Among the notable crypto forecasts for 2025 is the expectation that more crypto companies will go public, joining giants like Coinbase, Strategy, and various mining enterprises.
Mike Novogratz, CEO of Galaxy Digital, mentioned at the Ondo Summit earlier this month that he anticipates progress on this front by May or June. His firm has been aiming for a public listing in the US for over four years.
In December, shares of the crypto wallet provider Exodus began trading on the NYSE American stock exchange. At that time, the company held reserves of 1,900 BTC and 2,660 ETH.
Dan Weiskopf, co-portfolio manager at the Amplify Transformational Data Sharing ETF (BLOK), noted that he identifies around 20 blockchain firms at different stages of the US public listing process or contemplating it.
Weiskopf added that a restructured SEC, with Hester Peirce spearheading a crypto task force, is likely to foster an anticipated boom in public listings by 2025.
“The price movements of Bitcoin will remain a key focus of interest,” he stated. “However, people often overlook the significance of the underlying tools and infrastructure essential for capitalizing on the innovation at hand.”
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