Shares of Twenty One Capital, a Bitcoin company invested in by Tether and SoftBank, fell 24% on its first day of trading.

Shares of Twenty One Capital, a Bitcoin asset reserve company invested in by stablecoin giants Tether and SoftBank Group, plummeted on its first day of trading. The company, trading under the ticker symbol XXI, fell 24% on Tuesday morning. Twenty One Capital is listed on the New York Stock Exchange after merging with special purpose acquisition company Cantor Equity Partners. Twenty One holds 43,514 bitcoins, worth approximately $4 billion at current prices. According to bitcointreasuries.net, the company is the third-largest corporate Bitcoin holder after Michael Saylor's Strategy and Bitcoin mining company MARA Holdings.