CoinShares, the European digital asset manager, said Monday it will go public in the U.S. on the Nasdaq by combining with blank‑check company Vine Hill Capital Investment Corp., in a transaction that values the firm at $1.2 billion pre‑money on a pro‑forma basis.
St Helier, Jersey–based CoinShares manages around $10 billion in assets and today still trades on Nasdaq Stockholm; the company said it will stop trading on the Swedish exchange once the U.S. listing is complete. CEO and co‑founder Jean‑Marie Mognetti called the move a strategic transition to accelerate the firm’s global ambitions amid what he described as favorable regulatory tailwinds.
CoinShares primarily runs cryptocurrency exchange‑traded funds and expanded its U.S. footprint after acquiring Valkyrie Funds last year, gaining control over several prominent Bitcoin and Ethereum ETFs. The decision to move to the U.S. follows a broader trend of crypto firms pursuing public listings this year, including recent debuts and planned IPOs from notable industry players.
Why this matters: a Nasdaq listing could broaden U.S. investor access to CoinShares’ ETF products and raise the firm’s profile among institutional buyers. At the same time, SPAC transactions and public listings carry risks — from regulatory scrutiny to market volatility and deal contingencies — and the transaction remains subject to customary closing conditions.
Source: Decrypt. Read the original coverage for full details.
