Crypto Asset Manager ReserveOne Announces $1B Merger with M3-Brigade SPAC in Landmark Deal
Digital asset management just hit Wall Street's radar—hard.
ReserveOne files for groundbreaking SPAC merger that could reshape crypto's institutional landscape.
The $1 Billion Play
M3-Brigade brings traditional finance firepower to ReserveOne's crypto expertise. The SPAC route bypasses conventional IPO hurdles—accelerating public market entry while traditional banks still debate whether Bitcoin belongs in retirement portfolios.
Market Implications
This merger signals institutional confidence when regulatory clouds still linger. The move cuts through skepticism like a hot knife through butter—proving crypto asset management isn't just a niche play anymore.
Because sometimes you need a billion-dollar transaction to make old-school finance take notice of the future happening right under their noses.
ReserveOne to Manage Diversified Crypto Treasury with BTC, ETH, SOL
According to its earlier statements, ReserveOne will manage a diversified digital asset treasury, including Bitcoin, Ethereum, Solana, and other tokens.
The firm says it aims to generate yield via institutional staking and lending strategies, with bitcoin serving as the core reserve asset.
“ReserveOne will hold and manage a diverse basket of cryptocurrencies anchored with Bitcoin,” the company said in a July announcement.
The leadership team includes Jaime Leverton, former CEO of Hut 8, who will serve as CEO, and Sebastian Bea, who previously ran Coinbase Asset Management, as president and head of investment.
ReserveOne is positioned as a bridge for traditional investors to gain exposure to cryptocurrencies through a publicly traded equity, rather than holding digital assets directly.
Big announcement today at ReserveOne!
We’ve confidentially submitted our draft registration statement on FORM S-4 with the SEC (U.S. Securities and Exchange Commission)
A quick refresher on us: we’re one of the rare digital asset companies that hold diversified crypto… pic.twitter.com/gAGThNz3Uy
The structure mirrors Hut 8’s earlier strategy of becoming the first publicly listed company to hold Bitcoin on its balance sheet.
The merger with M3-Brigade, a special purpose acquisition company (SPAC), is part of a broader trend of digital asset firms seeking public market entry without the standard IPO route.
While final terms and timelines remain undisclosed, the $1 billion figure signals growing institutional confidence in structured crypto investment products.
Crypto IPOs Gain Momentum
Last week, BitGo officially filed for an initial public offering, becoming the first dedicated crypto custodian to pursue a listing on a US stock exchange.
BitGo’s IPO filing came amid renewed momentum for crypto-related public offerings.
The digital asset space has seen several notable public listings in 2025. Stablecoin issuer Circle made a splash with its IPO in June, surging more than sevenfold since going public.
Online trading platform Etoro, which offers crypto trading among its services, debuted in May.
In addition, Galaxy Digital, led by Mike Novogratz, moved its listing from the Toronto Stock Exchange to Nasdaq earlier this year.
Gemini, the exchange founded by the Winklevoss twins, filed confidentially for a U.S. IPO in June, signaling strong market confidence in crypto exchanges going public.
More recently, Figure Technology Solutions Inc., a blockchain-focused lending platform, raised $787.5 million in its initial public offering.
The San Francisco-based company, alongside key backers including Ribbit Capital, sold 31.5 million shares at $25 apiece, valuing the firm at roughly $5.3 billion.
Originally targeting a lower range, Figure increased both the share count and price just days before the listing, signaling strong investor demand.
