Bitcoin Depot, a leading cryptocurrency ATM company, is set to make its public debut on the Nasdaq stock exchange beginning July 3.

Bitcoin Depot, a prominent cryptocurrency ATM firm based in the United States, has revealed its plans to go public after successfully closing a merger deal. Fintech company GSR II Meteora Acquisition Corporation confirmed on June 30 that its stockholders have approved the merger, allowing it to act as a special purpose acquisition company for Bitcoin Depot. The merger, which was initially reported in August 2022 and valued at $885 million, will enable investors to gain exposure to Bitcoin Depot on the Nasdaq exchange starting from July 3.

Brandon Mintz, the founder and CEO of Bitcoin Depot, highlighted that the merger was aimed at supporting the company’s growth prospects and fostering the adoption of Bitcoin in North America. Investors will be able to find Bitcoin Depot’s shares under the ticker symbols BTM and BTMWW, representing its common stock and public warrants, respectively.

The announcement comes at a time when regulatory scrutiny is intensifying for firms offering cryptocurrency-related products and services in the United States. Recent lawsuits filed by the Securities and Exchange Commission against exchanges Binance and Coinbase have highlighted concerns over alleged unregistered securities offerings. However, investment vehicles with exposure to cryptocurrencies, such as BlackRock’s application for a spot Bitcoin exchange-traded fund, demonstrate a growing interest in the industry.

Bitcoin Depot, established in 2016, is among the largest cryptocurrency ATM firms in North America, boasting over 9,130 locations, as stated on its website. In May, another ATM provider, Bitcoin of America, announced the closure of its operations in Connecticut following regulatory action by the state’s Department of Banking, which claimed the company lacked the necessary licensing.

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