CoinShares to Enter US Market with $1.2 Billion Merger
CoinShares International Limited has entered into a business combination agreement with Vine Hill Capital Investment Corp., aiming for a listing on the Nasdaq Stock Market.
- The transaction values CoinShares at $1.2 billion pre-money.
- This positions CoinShares among the largest publicly traded digital asset managers globally.
- A $50 million anchor investment from an institutional investor supports the merger.
Strategic Move to US Market
- CoinShares will shift its listing from Nasdaq Stockholm to the US market.
- Over half of global assets under management are located in the US.
- Current assets under management stand at approximately $10 billion.
- CoinShares ranks as the fourth-largest provider of crypto exchange-traded products, following BlackRock, Grayscale, and Fidelity.
- In Europe, CoinShares holds a 34% market share.
- Assets managed have more than tripled over the past two years due to strong inflows and new product success.
CEO Jean-Marie Mognetti emphasized that this move is a strategic transition aiming for global leadership.
Record Financial Performance
- Global crypto ETP assets surged to $134.5 billion by Q4 2024, a 950% increase year-over-year.
- The crypto asset management market grew from $857.09 million in 2023 to $1.06 billion in 2024.
- Projected compound annual growth rate is 24.61% through 2030.
- In Q2 2025, CoinShares reported a net profit of $32.4 million and asset management fees of $30.0 million.
- CoinShares offers 32 crypto exchange-traded products covering various digital assets.
- Secured a MiCA license in July for operations across Europe.
Timeline for Debut
- CoinShares and Vine Hill shareholders will exchange securities for shares in the new company, Odysseus Holdings Limited.
- Transaction expected to close by the end of Q4 2025, pending approvals.
- CoinShares intends to delist from Nasdaq Stockholm, with trading on Nasdaq US expected to commence by December 18, 2025.