CoinShares Makes a Bold Move to Enter the US Market - Here’s Why It Matters
European crypto giant storms across the Atlantic—Wall Street won't know what hit it.
The Expansion Blueprint
CoinShares just deployed its European-tested crypto infrastructure directly into the heart of American finance. No gentle entry—this is a full-scale assault on the world's largest capital market.
Strategic Implications
The move bypasses traditional regulatory hurdles that typically stall foreign entrants. Instead of waiting for permission, they're building the plane while flying it—classic crypto ethos meets institutional ambition.
Market Impact
US-based crypto ETFs and funds now face an unexpected competitor with proven track record. They've already dominated European markets—why shouldn't they replicate that stateside?
Because nothing says 'financial innovation' like another firm chasing America's regulatory arbitrage opportunities while pretending it's about 'democratizing finance.'
The crypto giant CoinShares has announced its plan to trade on the US Nasdaq stock exchange through a significant $1.2 billion business combination. As one of Europe’s largest cryptocurrency asset managers, the company is now setting its sights on the US market as part of its global growth strategy. The agreement, revealed on September 8, 2025, is expected to be finalized by the end of the year.
ContentsDetails of the $1.2 Billion MergerGaining Ground in the US MarketDetails of the $1.2 Billion Merger
Under the agreement with Vine Hill Capital Investment, a special purpose acquisition company listed on Nasdaq, CoinShares aims to strengthen its US presence. This transaction sets CoinShares at a pre-valuation of $1.2 billion, offering US investors a direct opportunity to engage with the company’s growth. A corporate investor has committed to a $50 million equity investment as part of the agreement.
Ranking fourth globally in cryptocurrency exchange-traded investment products behind BlackRock, Grayscale, and Fidelity, CoinShares dominates the European market with a 34% share. Over the past two years, it has more than tripled its assets under management, reaching approximately $10 billion.
According to the agreement, shareholders of CoinShares and Vine Hill will merge under the newly established Odysseus Holdings Limited. The boards unanimously approved the transaction, with plans to complete the merger in the fourth quarter of this year.
Gaining Ground in the US Market
CoinShares has significantly expanded its offerings from just four products in 2021 to 32 products across four platforms today. It includes exchange-traded products (ETPs), primarily based on Bitcoin
$111,929, Ethereum
$4,311, Solana
$214, and other altcoins, as well as cryptocurrency indices and stock products related to the crypto ecosystem. The “CoinShares Physical” platform in Europe has increased its revenues by 5.4 times from 2023 to the mid-year, contributing substantially to the company’s growth.
The company’s business model generates a robust cash FLOW through a recurring-payments-based revenue structure. In 2024, CoinShares achieved an adjusted EBITDA margin of 68%, which increased to 76% in the first half of the year. As of June, the net asset position stood at $411 million.
Vine Hill Capital Investment conducted a $220 million public offering in September 2024. The partnership aims to facilitate CoinShares’ entry into US capital markets following the merger.
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