Bitcoin Rewards App Fold Makes Wall Street Debut

Bitcoin rewards app Fold Holdings made its Wall Street debut on Wednesday, February 19, 2025, via a SPAC merger with FTAC Emerald Acquisition Corp. The firm, which holds 1,000 BTC worth approximately $96 million, saw its shares rally by 30% in early trading before giving back a significant portion of those gains.

Fold is now the latest publicly traded company to have bitcoin on its balance sheet, joining the likes of Michael Saylor's Strategy and smaller companies like Semler Scientific and Metaplanet. The firm went public through a business merger with FTAC, a publicly traded special purpose acquisition company (SPAC).

In the early minutes of trading, FLD shares jumped more than 30% above $13 before pulling back to the $11 area. Fold's debut comes as the cryptocurrency market continues to evolve, with more companies embracing bitcoin and other digital assets.

The firm's public listing is a significant milestone for the bitcoin rewards industry, as it demonstrates the growing acceptance and legitimacy of cryptocurrencies in the mainstream financial world. As more companies like Fold enter the public markets, investors and consumers alike will have more opportunities to engage with and invest in the cryptocurrency ecosystem.