Crypto Stocks: Celsius Spinoff Ionic Digital Hits $2.8Bn Valuation Following Nasdaq Listing
In crypto stocks news, Ionic Digital, the Bitcoin miner and AI infrastructure company that emerged from the wreckage of Celsius Network’s bankruptcy, climbed roughly 26% on its Nasdaq debut Tuesday, closing at $62.90 after opening at $50 and printing a market cap of approximately $2.8Bn, according to its registration statement filed with the US SEC.
The stock pared some of those gains in after-hours trading, falling 6.5% to $58.80, according to Yahoo Finance. That pullback is worth noting: a strong open does not guarantee a clean trend, and investors in Bitcoin mining names know that first-day enthusiasm can fade quickly.
This news dropped as Bitcoin climbed +1.6% overnight, reclaiming $64K and hitting $64,350 ahead of today’s FOMC rate-hike meeting in the US. Daily trading volume for BTC USD sits at $24.9Bn.
NEW: Bitcoin miner Ionic Digital records 26% in Nasdaq debut. pic.twitter.com/x6pe6xu97W
- Bitcoin News (@BitcoinNewsCom) July 29, 2026
Crypto Stocks: Ionic is the Largest US Direct Listing Since 2021
Ionic did not conduct a traditional IPO – no new primary shares were sold, and no investment bank set a book price through roadshow demand. Instead, it used a direct listing, a structure where existing shareholders sell directly into the open market. IPO research firm Renaissance Capital said Ionic’s implied market value of $2.4 billion at Nasdaq’s $53 reference price made it the largest US direct listing since 2021, a cohort that previously included high-profile technology names.
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