Bitcoin Depot, one of the biggest crypto ATM firms in North America, is slated to go live on NASDAQ on July 3rd, paving the way for its mass adoption.
The ticker symbols for Bitcoin Depot’s common stock and public warrants, respectively, are BTM and BTMWW.
According to a June 30 release, the listing was part of a year-old merger agreement between fintech firm GSR II Meteora Acquisition Corporation and Bitcoin Depot that would allow investors exposure on the Nasdaq.
The $885 million merger deal was initially reported in August 2022. According to the founder and CEO of the ATM firm, Brandon Mintz, the merger is primarily intended to foster “growth opportunities” and encourage the use of BTC throughout the United States.
According to its website, Bitcoin Depot, one of the largest cryptocurrency ATM companies in North America, has more than 9,130 locations.
Bitcoin of America, a rival provider of ATMs, stated in May that it will cease operations in Connecticut because the state’s Department of Banking claimed the company lacked the necessary licensing.
The latest announcement follows a number of applications for exchange-traded funds [ETFs] that promised investors similar exposure to cryptocurrencies in a troubled period.
The crypto markets were rocked with aggressive enforcement drives after the Securities and Exchange Commission [SEC] filed lawsuits against exchanges Binance and Coinbase for alleged unregistered securities offerings.
But that has hardly deterred institutional investors who have continued to view the digital asset market in a positive way. Among them was leading asset manager BlackRock which recently filed an application in June to list a spot BTC exchange-traded fund.
Soon after, two more companies jumped on board, and there are rumors of additional fintech companies about to file one.
Bitcoin: Over 60% Of Institutional Investors Have Bullish Outlook For 12 Months
A recent survey by Binance Research, the research wing of the world’s largest crypto exchange observed that the majority of institutional investors are upbeat about the prospects of cryptocurrencies for the coming year
The respondents were made up of a wide range of institutional investors with different levels of expertise and assets under management [AUM].
In the outlook category, 63.5% of the respondents were positive about the future of the crypto industry. Additionally, 88% of the respondents expressed optimism regarding cryptocurrency when the time horizon was increased to ten years.