Fold Holdings Debuts on Nasdaq

Bitcoin rewards financial services firm Fold Holdings (FLD) made its debut on the Nasdaq stock exchange on Wednesday, with an initial surge in shares.

The company went public through a merger with FTAC Emerald Acquisition Corp. (FTAC), a special purpose acquisition company (SPAC). Shares of FLD rose more than 30% above $13 shortly after trading began but later settled around the $11 mark.

Fold joins the ranks of publicly traded companies that hold bitcoin (BTC) on their balance sheets, following notable examples such as Michael Saylor’s strategy and smaller firms like Semler Scientific and Metaplanet. As per public filings, Fold currently holds 1,000 BTC, valued at approximately $96 million at current market prices.