Wall Street giant Cantor Fitzgerald is reportedly close to finalizing a massive $4 billion special purpose acquisition company (SPAC) deal that would involve the purchase of billions in Bitcoin. If completed, this would mark one of the largest crypto acquisitions ever by a traditional financial firm.
A Landmark Crypto Deal with Blockstream Founder Adam Back
The deal is centered around Cantor Equity Partners 1, a SPAC that raised $200 million in January 2025. In a strategic partnership, the SPAC will merge with entities tied to Adam Back, a well-known crypto pioneer and founder of Blockstream. Back is expected to contribute as many as 30,000 Bitcoin—currently valued at over $3 billion—to the transaction.
To complete the deal and fund further growth, Cantor plans to raise an additional $800 million. The newly merged company will be called BSTR Holdings, and in exchange for the Bitcoin contribution, Back and Blockstream Capital will receive a significant stake in the new entity.
Cantor’s Growing Crypto Footprint Nears $10 Billion
This move follows Cantor Fitzgerald’s earlier $3.6 billion Bitcoin venture with SoftBank and Tether announced in April 2025. With both deals combined, the firm’s total crypto-related investments could soon approach a staggering $10 billion, signaling one of the most aggressive pushes into digital assets by a legacy Wall Street player.
Under the leadership of new chairman Brandon Lutnick, Cantor has ramped up its crypto activity significantly. The timing of this announcement aligns with “Crypto Week” in Washington, a major industry event where lawmakers and crypto leaders discuss regulatory policy and the future of digital assets.
The size and ambition of Cantor’s latest move reflect growing institutional interest in Bitcoin and blockchain technology, especially as traditional finance firms seek exposure to digital assets amid increasing mainstream acceptance.
