CoinShares to Go Public on Nasdaq in $1.2B SPAC Merger with Vine Hill

European digital asset manager CoinShares is set to list on the Nasdaq through a $1.2 billion merger with Vine Hill Capital, a U.S.-listed SPAC. The deal, approved by both boards, will create Odysseus Holdings Limited and includes a $50 million anchor investment. CoinShares, already traded in Sweden, aims to tap into the vast U.S. investor base.

Jean-Marie Mognetti, CEO of CoinShares, emphasized the strategic shift beyond a mere listing change. "This transaction represents far more than a change of listing venue," he said, highlighting Nasdaq's role in accelerating the firm's ambition to lead the digital asset space. CoinShares manages $10 billion in assets, ranking as Europe's largest crypto asset manager.

The merger is expected to close later this year pending shareholder and regulatory approvals. The MOVE underscores growing institutional interest in crypto despite recent market volatility.