Algorand-Linked Exodus Wallet Goes Public on NYSE
Highlights
- Exodus Wallet has uplisted on NYSE American
- The firm faced initial rejection in May before finally making history on December 8
- Other top crypto firms are likely to go public this year per Bitwise forecast
Crypto wallet developer Exodus Movement Inc has made history in its journey as it got uplisted on the New York Stock Exchange (NYSE) American. For a firm that traded in the OTC Markets (OTCQX), this NYSE listing marks a major upgrade for the firm.
Exodus Innovation Paid Off?
The self-custodial crypto wallet maker came into the limelight in 2015 and has launched backing for different protocols, including Bitcoin and Algorand. Prior to its listing on the NYSE American, the firm’s stock was under the ticker symbol “EXOD.” Known as a mild performer, the stock recorded an all-time high of $41 on hype around the uplisting in December 2024.
In May, the United States Securities and Exchange Commission (SEC) blocked the firm’s NYSE listing attempt. The 11th-hour approval now marks a major shift in the crypto regulatory landscape in the U.S. This is due to Donald Trump’s pro-crypto stance. The US president-elect has so far been welcoming to industry leaders and recently met with Ripple’s CEO Brad Garlinghouse.
With the listing, Exodus represents the first time common stock will be tokenized on a blockchain.
BREAKING: The NYSE officially welcomes @exodus, which is tokenized on the Algorand blockchain.
This marks the first time common stock has been tokenized on a blockchain. pic.twitter.com/lks6u8ViMV
— Chain Gab (@ChainGab) January 8, 2025
Meanwhile, the listing has triggered a major selloff in EXOD, triggering reactions from the community. Many remain concerned that the listing might not have paid off after all. Per market data, EXOD price was down by 10.71% in 24 hours to $35.10. Amid this, the firm’s stock is maintaining a 14% surge in the past 5 trading days.
Spotlight for Lagging Supported Tokens
The Exodus Wallet supports a number of digital currencies in the market, including Bitcoin (BTC), Algorand (ALGO), and EOS, among others.
The firm’s public debut on the NYSE will further place the spotlight on these assets. This spotlight may help drive renewed interest to these assets.
While the impact of Exodus listing on NYSE might be an indirect boost for the market, it has effectively set the pace for other firms eyeing an IPO this year.
Bitwise on Firms To Go Public This Year
As part of the Bitwise 2025 predictions, the asset management firm forecasted that at least 5 crypto unicorns will go public in the US this year.
The asset manager named Kraken Exchange and stablecoin issuer Circle Internet Financial as the top candidates. It also named Figure, Chainalysis, and Anchorage Digital to complete the top 5 list of potential candidates.
Circle has made proactive moves regarding its IPO plans. However, while awaiting the US SEC’s greenlight, the firm unveiled Hong Kong expansion plans last year.
- Indian Court Declares XRP as Property in WazirX Hack Case
- Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH
- Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
