Fold Holdings Prepares for Historic Nasdaq Debut as First Bitcoin Financial Services Company

TLDR:

Fold Holdings will become the first Bitcoin financial services company to trade on Nasdaq on February 19, 2025, following its merger with FTAC Emerald Acquisition Corp.

The company will trade under ticker symbols “FLD” and “FLDDW” for common stock and warrants respectively, pending final approval.

Fold, founded in 2019, currently holds 1,000 BTC (worth approximately $94 million) and is the 23rd-largest holder of Bitcoin among companies.

The company joins 11 other crypto-native companies on Nasdaq, including Coinbase, Strategy, and several Bitcoin mining firms.

Fold offers Bitcoin-based financial products, including a credit card with 2% Bitcoin cashback, aiming to integrate BTC into everyday financial services.

Fold Holdings, a Bitcoin financial services company, is set to make history on February 19, 2025, as it becomes the first company of its kind to trade on the Nasdaq stock exchange. The milestone comes after shareholders approved a merger with FTAC Emerald Acquisition Corp., a special purpose acquisition company (SPAC).

The company’s debut on Nasdaq will see its common stock and warrants trade under the symbols “FLD” and “FLDDW” respectively. The listing, which remains subject to final approval, marks a major step in bringing Bitcoin-focused financial services to traditional markets.

Founded in 2019, Fold has built its business around integrating Bitcoin into everyday financial products. The company currently holds 1,000 Bitcoin in its treasury, valued at approximately $94 million at current market prices. This holding makes Fold the 23rd-largest corporate holder of Bitcoin.

Will Reeves, co-founder and CEO of Fold, shared his thoughts on the company’s journey. “Six years ago, we embarked on a mission to expand access to Bitcoin investment opportunities through premium financial products,” he said. Reeves emphasized that the public listing would help advance their vision of creating a gateway to Bitcoin-based financial services.

The company has recently expanded its product offerings by opening a waitlist for a credit card that provides users with 2% cashback in Bitcoin. This move aligns with Fold’s mission to make Bitcoin more accessible to everyday consumers through familiar financial tools.

Crypto Native Companies

Fold’s listing adds to the growing presence of crypto-native companies on the Nasdaq exchange. It will become the 12th such company to join the exchange, following in the footsteps of well-known names like Coinbase and Strategy.

The timing of Fold’s public debut comes as Bitcoin exposure through financial instruments continues to grow. Recent data shows that spot Bitcoin exchange-traded funds (ETFs) have surpassed $40 billion in net flows, indicating increasing mainstream interest in Bitcoin investments.

Strategy, another Bitcoin-focused company, has already seen success on the Nasdaq, having joined the Nasdaq 100 Index in December 2024. Michael Saylor, a Bitcoin advocate and key figure at Strategy, has publicly congratulated Fold on their upcoming listing.

The merger process that led to this listing was completed after FTAC shareholders gave their approval on February 13, 2025. The combined company will continue to operate under the Fold Holdings name, maintaining its focus on Bitcoin-based financial services.

Among the crypto companies already trading on Nasdaq are several Bitcoin mining firms, including Marathon Digital, CleanSpark, Cipher Mining, Bit Digital, Bitfarms, Hut 8, Riot Platforms, Hive, and Iren.

Fold’s public listing represents a continuation of the trend of crypto companies entering traditional financial markets. The company’s focus on Bitcoin-based financial services sets it apart from other listed crypto companies, which primarily focus on trading or mining operations.

The listing process has been structured through a business combination with FTAC Emerald Acquisition Corp., a common path for companies looking to enter public markets. This approach, known as a SPAC merger, often provides a more streamlined route to becoming a public company compared to traditional IPOs.

Fold’s entrance to the public markets comes at a time when Bitcoin has been gaining more recognition in traditional finance. The recent approval of spot Bitcoin ETFs has created new ways for traditional investors to gain exposure to the cryptocurrency.

As February 19 approaches, Fold prepares to begin its journey as a public company, adding another chapter to the ongoing integration of Bitcoin-focused businesses into mainstream financial markets.

The company’s treasury holdings of 1,000 Bitcoin will make it one of the publicly-listed companies with direct Bitcoin exposure, joining others who maintain cryptocurrency on their balance sheets.