CoinShares, Europe’s largest digital asset manager, is set to go public in the U.S. through a $1.2 billion merger with Vine Hill Capital Investment Corp (VCIC), a Nasdaq-listed SPAC. The transaction marks a significant move for CoinShares as it relocates its listing from Stockholm to New York, gaining access to U.S. capital markets and investors. The firm manages approximately $10 billion in assets, including 32 crypto exchange-traded products (ETPs) covering various tokens such as bitcoin and ether, and holds a 34% share of the EMEA market for digital asset ETPs. CEO Jean-Marie Mognetti emphasized that the U.S. listing represents a pivotal moment for digital assets, bolstered by clearer regulatory conditions. With a reported 76% adjusted EBITDA margin in the first half of 2025, CoinShares showcases strong profitability compared to competitors. The deal is anticipated to close by the end of 2025, pending necessary approvals, allowing CoinShares to operate under the new parent company, Odysseus Holdings Limited.

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