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

XXI experienced a significant decline on its first trading day following its SPAC merger with Cantor Equity Partners. The stocks are trading at around 10 dollars, close to the PIPE price 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 has shown little change throughout the day, trading at around 90,900 dollars.