Exodus Movement Inc. (AMEX:EXOD) began trading on the NYSE American exchange this Wednesday, becoming the latest listed company on Wall Street with cryptocurrencies as its core business.
What happened
Shares of the self-custodial wallet provider closed 37% higher at $53.50 after being listed on NYSE American, which is the subsidiary of the New York Stock Exchange.
Belonging to the New York Stock Exchange, the NYSE American specializes in small and mid-cap stocks.
The company, which previously traded over-the-counter, gained approval to list its common stock last week.
More Read
You can also read: Bitcoin (BTC) Hits All-Time Highs: What Risks Does MicroStrategy (MSTR) Face With Its Aggressive Strategy?
Why is it important
Founded in 2015, Exodus is one of the oldest non-custodial Cryptocurrency wallet providers, supporting major cryptocurrencies such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).
With its debut, Exodus joined the list of Wall Street companies that primarily deal in cryptocurrencies, including Coinbasethe largest cryptocurrency exchange in the US, and Japan’s crypto giant, Coincheck.
A stock market listing, especially in the US, exposes a company to a broader spectrum of institutional and retail investors, thereby increasing its liquidity and visibility.
Photo courtesy of: Maor_Winetrob on Shutterstock.com
You can also read: 5 stocks in focus this Thursday: ACN, MU, NKE, LEN and FDX
For more updates on this topic, activate Benzinga Spain notifications or follow us on our social networks: x and Facebook.
Receive exclusive information on market movements 30 minutes before other traders
Benzinga Pro’s 14-day free trial, available in English, gives you access to exclusive information so you can receive useful trading signals before millions of other traders. CLICK HERE to start your free trial.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
