CoinShares to Merge with Vine Hill Capital in $1.2B SPAC Deal
CoinShares, a major European digital asset manager, will go public in the U.S. through a $1.2 billion merger with Vine Hill Capital Investment Corp (VCIC), a Nasdaq-listed SPAC. Key details include:
- Shift of listing from Stockholm to New York
- Access to U.S. capital markets and investors
- Management of approximately $10 billion in assets
- Offering 32 crypto exchange-traded products (ETPs) including links to bitcoin, ether, and others
- Ranked fourth globally in digital asset ETPs, with a 34% market share in Europe, the Middle East, and Africa
- Reported a 76% adjusted EBITDA margin in the first half of 2025
The merger is seen as a pivotal moment for digital assets, with CEO Jean-Marie Mognetti highlighting improved regulatory clarity in the U.S. The transaction is expected to close by the end of 2025, pending approvals. CoinShares will trade on Nasdaq under the new name Odysseus Holdings Limited if completed.