Fold Holdings Begins Trading on Nasdaq After SPAC Merger
Bitcoin rewards company Fold Holdings (FLD) officially went public on Wednesday, listing on the Nasdaq following a merger with FTAC Emerald Acquisition Corp. (FTAC), a special purpose acquisition company (SPAC).
FLD shares saw a volatile debut, initially soaring more than 30% to trade above $13 before retreating to around $11.
With its listing, Fold joins a growing number of publicly traded firms with Bitcoin (BTC) on their balance sheets, following the path of Michael Saylor’s Strategy, as well as smaller players like Semler Scientific and Metaplanet. Public filings indicate that Fold holds 1,000 BTC, currently valued at approximately $96 million.
