Fold Holdings, a Bitcoin (BTC) financial services firm, is set to make its debut on the Nasdaq on February 19th, marking its entry as the 12th crypto-native company to be listed on the stock exchange. This milestone comes following its merger with FTAC Emerald Acquisition Corp. (FTAC), a special purpose acquisition company (SPAC), as announced in a statement on February 18th.
The combined entity will operate under the name Fold Holdings, with its common stock and warrants expected to start trading on the Nasdaq under the ticker symbols “FLD” and “FLDDW” respectively, pending final approval. Will Reeves, co-founder and CEO of Fold, expressed his excitement about the public listing, stating that it positions the company to further its mission of providing access to Bitcoin-based financial services and expanding wealth creation opportunities for its customers.
Founded in 2019, Fold is known for its focus on integrating Bitcoin into everyday financial products. The company recently launched a waitlist for a credit card that offers users 2% cashback in Bitcoin. Additionally, Fold holds 1,000 BTC in its treasury, making it the 23rd-largest holder of Bitcoin among companies, according to data from Bitcoin Treasuries.
Fold’s listing on the Nasdaq solidifies its position among other prominent crypto-native companies such as Coinbase and Strategy. The growing trend of Bitcoin exposure through financial instruments, including spot BTC exchange-traded funds (ETFs) with over $40 billion in net flows, could potentially drive Fold’s shares to become a proxy similar to Strategy’s integration with the Nasdaq 100 Index.
The move to go public on the Nasdaq reflects Fold’s commitment to advancing the adoption of Bitcoin and making it more accessible to a broader audience. As the cryptocurrency industry continues to evolve and gain mainstream acceptance, companies like Fold are at the forefront of bridging the gap between traditional finance and the digital asset space.
In conclusion, Fold’s listing on the Nasdaq signifies a significant milestone for the company and the broader crypto industry. With its innovative approach to integrating Bitcoin into financial products, Fold is well-positioned to leverage its public listing to drive further growth and expand its reach in the evolving digital economy.