CoinShares to List on Nasdaq in $1.2 Billion SPAC Merger Amid Crypto IPO Wave

CoinShares, Europe's fourth-largest digital asset manager, is making a strategic pivot to the U.S. market through a $1.2 billion SPAC merger with Vine Hill Capital. The deal, backed by a $50 million equity commitment, will create Odysseus Holdings Limited—expected to trade on Nasdaq by year-end pending regulatory approvals.

The move capitalizes on growing institutional demand as regulatory clarity improves. With $10 billion in assets under management—triple its 2021 figures—CoinShares commands 34% of Europe's crypto ETP market. Its product suite has expanded from 4 to 32 offerings across multiple platforms since 2021.

CEO Jean-Marie Mognetti positions the listing as a credibility booster in the world's largest capital markets. Vine Hill's Nicholas Petruska touts the combined entity's recurring revenue and profitability as foundations for unstoppable growth.