Bitcoin-Backed Stock Twenty One Faces First-Day Slide on NYSE

Twenty One Capital, Inc. debuted on the NYSE on December 9, 2025, with its Class A common stock listing under ‘XXI.’

The first-day slide highlights investor caution towards BTC-backed stocks, indicating market skepticism despite strong Bitcoin holdings.

Twenty One Capital’s Bitcoin Holdings in Focus at NYSE Debut

Twenty One Capital, a Bitcoin-native company, made its debut on the NYSE on December 9, 2025. It originated from a business combination with Cantor Equity Partners, Inc. and holds over 43,500 Bitcoin. Read more in Bitcoin Firm Twenty One Set for NYSE Listing on December 9.

The company, led by Jack Mallers, is majority-owned by Tether and Bitfinex. Investors are provided on-chain proof of Bitcoin holdings for transparency, highlighting Twenty One’s commitment to trust. Mallers emphasizes, “Bitcoin is honest money. That’s why people choose it, and that’s why we built Twenty One on top of it. 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.”

Investors Show Caution as Twenty One Stock Slips

Twenty One’s first-day stock performance hinted at investor caution. Despite its Bitcoin backing, the stock experienced a slide, reflecting market uncertainty.

Potential implications include heightened market vigilance for Bitcoin-backed assets amidst regulatory uncertainties. Historical data indicates Bitcoin’s inherent volatility, impacting stock performance.

Bitcoin-Backed Stocks: Patterns of Initial Volatility

While Bitcoin-related assets have faced initial volatility, past instances often showcased recovery post-debut. Comparisons with similar stocks highlight investor caution during initial phases.

Kanalcoin experts suggest that the fluctuations present in initial trading could stabilize, supported by historical performance patterns of Bitcoin-backed stocks.