Fold public listing on the Nasdaq is a major milestone for the Bitcoin financial services firm and the crypto industry in general.
Fold Holdings, a Bitcoin-native fintech backed by the venture studio Thesis*, went public on the Nasdaq Stock Market under the ticker symbols FLD (common stock) and FLDDW (warrants).
While other companies involved in the cryptocurrency space, such as Coinbase and Bitcoin Depot, are also listed on the Nasdaq exchange, Fold distinguishes itself by focusing specifically on Bitcoin financial services. It has become the first firm of this kind to enter the given public market.
Fold is a Bitcoin rewards platform that enables users to earn, save, and spend Bitcoin on everyday purchases. Initially developed within Thesis*’ ecosystem, Fold has evolved into a highly successful separate platform incubated by the venture studio. As a project nurtured within Thesis*, Fold leveraged the company’s deep expertise in Bitcoin finance, strategic direction, and direct support in developing and scaling its product.
The startup experienced rapid growth, securing a $13 million Series A investment in 2021, with Craft Ventures leading the round. Other contributions came from M13, Slow Ventures, and Bessemer Venture Partners.
In 2024, Fold advanced further by merging with FTAC Emerald Acquisition Corp., a special purpose acquisition company (SPAC) backed by Cohen Circle. This strategic move provided the necessary capital and institutional support to expand its reach, ultimately leading to its groundbreaking listing on the Nasdaq Stock Market.
Today, the startup leverages Bitcoin-native infrastructure to offer consumers a seamless method of incorporating Bitcoin into their daily financial activities. Fold’s Bitcoin rewards platform is designed to help users accumulate Bitcoin effortlessly by earning satoshis (“sats”) — the smallest unit of Bitcoin named after its alleged founder — on their everyday purchases, replacing conventional loyalty points. Instead of earning cashback or airline miles, Fold users receive Bitcoin rewards, allowing them to passively build their crypto holdings without changing usual spending patterns.
By partnering with major payment networks like Visa, Fold has expanded its reach and usability, enabling users to earn Bitcoin rewards on a wide range of transactions. These include purchases made with credit cards, rent payments, and even gift card purchases, making Bitcoin accumulation more accessible and seamlessly integrated into daily financial activities. Through these partnerships, Fold is bridging the gap between traditional finance and the Bitcoin ecosystem, offering a simple, user-friendly way for consumers to engage with cryptocurrency without requiring technical expertise or direct investments.
“Going public is a testament to the growing role of Bitcoin in the global financial system,” said Will Reeves, CEO of Fold. “We started with the belief that finance should be open, inclusive, and built on Bitcoin. Our Nasdaq listing brings us one step closer to making that vision a reality.”
