#BitcoinSPACDeal
Cantor Fitzgerald & Bitcoin Standard SPAC
Bitcoin Standard Treasury Company is set to go public via a SPAC merger with Cantor Fitzgerald–backed Cantor Equity Partners I (CEPO).
Upon completion, it plans to hold over 30,000 BTC, becoming the fourth-largest publicly listed Bitcoin treasury.
The deal is expected to close in Q4 2025, and the merged entity will trade on Nasdaq under the ticker BSTR, raising up to $1.5 billion through PIPE financing.
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Cantor Fitzgerald’s Larger $4B Bitcoin SPAC Strategy
In a related but separate initiative, Cantor is pursuing a $4 billion SPAC-style deal involving 30,000 BTC contributed by Adam Back of Blockstream.
This is being orchestrated through Cantor Equity Partners 1, with up to $800 million in external funding supplementing the Bitcoin contribution, and the entity would be rebranded as BSTR Holdings. A deal announcement could come soon.
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Broader Trend: SPACs Fueling Crypto-Treasury Strategies
Crypto firms are increasingly turning to SPACs as rapid, IPO-alternative vehicles to build out Bitcoin treasuries—a strategy popularized by MicroStrategy.
Other active deals include:
Parataxis, merging with SilverBox Corp IV to go public under PRTX (NYSE), raising up to $640 million and deploying $31 million immediately to purchase BTC.
ReserveOne, planning a $1 billion SPAC merger with M3‑Brigade Acquisition V Corp, backed by the likes of Galaxy Digital and Kraken. Its treasury will span BTC, ETH, and SOL for yield generation.
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Summary Table
Deal / Entity Key Details
Bitcoin Standard via CEPO Over 30,000 BTC; Nasdaq listing; $1.5B PIPE; Q4 2025 closing; ticker BSTR
Cantor + Blockstream $4B deal involving 30,000 BTC; entity to be renamed BSTR Holdings
Parataxis + SilverBox $640M SPAC; $31M BTC purch. at closing; trades as PRTX on NYSE
ReserveOne + M3‑Brigade SPAC $1B deal; diversified crypto treasury (BTC, ETH, SOL); ticker RONE.
