# XXI MNav Tracker

> Independent tracker for XXI mNAV, XXI NAV, and XXI holdings.

Canonical URL: https://xximnav.com
Official XXI site: https://xxi.money
Affiliation: Not affiliated with Twenty One Capital.

## Current Snapshot

- XXI mNAV ratio: 0.69x
- XXI NAV: $2,730,882,995.42
- XXI holdings: 43,513.11 BTC
- XXI stock price used: $5.42
- Class A shares outstanding: 346,807,836
- Class B shares outstanding: 304,842,759
- Last refreshed: 2026-07-05T04:56:14.903Z

## Methodology

XXI mNAV is calculated as Class A market cap divided by Bitcoin NAV.
Class A market cap is Class A shares outstanding multiplied by the XXI stock price used by the tracker.
Bitcoin NAV is calculated from official XXI BTC holdings.
Class B shares are excluded from market cap because they are governance/control stock with voting power but no economic rights and are not publicly tradable.

## Target Queries

- xxi mnav
- xxi nav
- xxi holdings
- xxi btc holdings
- xxi bitcoin holdings
- twenty one capital nav
- twenty one capital holdings