Exodus Movement, Inc., a leader in self-custody cryptocurrency software solutions, will debut on the US stock exchange NYSE. The company’s Class A common stock, which trades under the symbol “EXOD,” will begin trading on December 18, 2024.
Until then, the stock will continue to trade on the OTCQX. The transition will mark an important moment for Exodus and its shareholders.
Exodus shares will be listed on the New York Stock Exchange after OTC trading
The company shared the news in an official announcement, which was also reinforced in a post on X (formerly Twitter).
“A step forward for Exodus. A leap forward for financial freedom. “We are proud to announce that our EXOD shares will begin trading on the NYSE American on December 18,” the company shared.
Indeed, the move reflects Exodus’ growing influence within the cryptocurrency ecosystem, as listing on the New York Stock Exchange provides broader exposure to institutional and retail investors. The transition is expected to improve trading liquidity and increase the company’s visibility within traditional financial markets.
JP Richardson, CEO and co-founder of Exodus, echoed this sentiment, noting that it highlights how innovative companies can be listed on major US stock exchanges. In his opinion, this incorporation could raise Exodus’ corporate profile and at the same time improve liquidity for its current and future shareholders.
“We expect this addition to increase Exodus’ corporate profile while improving liquidity for our current and future shareholders,” shared Richardson.
Meanwhile, this is not the first time Exodus has sought to list on the New York Stock Exchange. In May 2024, the company expressed similar plans to list on the NYSE American. At the time, he cited the intention to create long-term value for shareholders and expand market knowledge.
Although the May initiative suffered delays, the company’s persistence could pay off. This shows their commitment to bridging the gap between traditional finance (TradFi) and blockchain innovation.
Broader context for cryptocurrencies on Wall Street
On the other hand, the listing of Exodus on the New York Stock Exchange reflects the growing acceptance of cryptocurrency-related companies on Wall Street. While Exodus secured its place on the exchange, other prominent crypto players, such as Grayscale and ProShares, remain in regulatory limbo.
Grayscale is awaiting SEC approval for its diverse cryptocurrency ETF on NYSE Arca. On the other hand, ProShares is seeking authorization for its spot listing of Ethereum ETFs (exchange-traded funds). Together, these developments signal a cautious but progressive shift in the integration of digital assets within the TradFi ecosystem.
The New York Stock Exchange itself has taken steps to adapt to the growing demand for cryptocurrency-related assets. As reported by BeInCrypto, the New York Stock Exchange is exploring the possibility of extending trading hours for Bitcoin ETFs.
This reflects the growing appetite among investors for exposure to digital assets. These initiatives reflect a broader trend of traditional exchanges adapting to the needs of the fast-paced crypto sector.
As the New York Stock Exchange opens up to cryptocurrencies and Wall Street in general warms up to the industry, experts suggest that blockchain technology could address long-standing challenges in traditional stock trading. For example, the transparency and efficiency of blockchain could help mitigate trading failures, which have occasionally disrupted trading on the New York Stock Exchange.
These advances could pave the way for a more robust and reliable trading infrastructure, benefiting both traditional and crypto markets.
