Bitcoin Treasury Company XXI, fell 25% on the NYSE.

XXI experienced a significant drop on its first trading day following its SPAC merger with Cantor Equity Partners. The shares are trading around 10 dollars, close to the PIPE price level in the market.

This development is the latest example of the decline in stock performance among Bitcoin treasury companies that has occurred this year. Bitcoin, on the other hand, has shown little change during the day, trading at around 90,900 dollars.