All about CoinShares’ $1.2B plan to go public in the U.S.

Key takeaways

CoinShares is set to enter the U.S. market through a $1.2 billion SPAC merger with Vine Hill Capital. They will be backed by a $50 million anchor investment.

CoinShares, one of Europe’s biggest names in crypto asset management, is preparing for a big move. The firm is going public in the U.S. through a $1.2 billion SPAC merger with Vine Hill Capital, making way for its debut on Nasdaq.

Here’s what you need to know about the latest in a series of big moves in the market.

CoinShares to go public in the U.S.

European crypto asset manager CoinShares is making a major move into the U.S. market through a $1.2 billion SPAC merger with Vine Hill Capital Investment, a publicly traded special purpose acquisition company (SPAC).

As part of the deal, CoinShares will shift its listing from Sweden to the Nasdaq Stock Market, giving U.S. investors direct access to one of the world’s largest digital asset managers.

Source: PR Newswire

This means U.S. investors will soon gain direct access to CoinShares stock, marking a significant milestone in the company’s global expansion strategy.

With approximately $10 billion in assets under management, CoinShares ranks as the fourth-largest provider of crypto exchange-traded products (ETPs) globally.

In Europe, it leads the market with a commanding 34% share

Why the U.S.?

As co-founder and CEO Jean-Marie Mognetti put it,

“This transaction represents far more than a change of listing venue from Sweden to the United States.”

He explained that the U.S. is the “world’s largest asset management market,” making it the perfect place for CoinShares to expand.

In Q2 2025, CoinShares reported $32.4 million in profits and a 26% increase in AUM to $3.46 billion. This was charged by rising prices of Bitcoin [BTC] and Ethereum [ETH].

Merger supported by $50 mln

The SPAC merger has extra power thanks to a $50 million anchor investment from an institutional backer.

This is expected to give CoinShares broader reach with U.S. investors and stronger footing. The company is also framing the deal as part of a bigger shift for the digital asset industry.

As Mognetti emphasized,

“The case for digital assets as an investment class and blockchain as a transformative technology has reached a decisive inflection point and can no longer be ignored. There is no going back.”

The deal is expected to close later in 2025, pending regulatory and shareholder approvals.