European Crypto Asset Manager CoinShares Plans $1.2B U.S. Public Listing

CoinShares, Europe's largest digital asset manager with $10 billion in assets under management, is pursuing a Nasdaq listing through a $1.2 billion SPAC merger with Vine Hill Capital. The MOVE signals a strategic pivot toward the U.S. market, where the firm aims to replicate its European success.

The Jersey-based company commands a 34% market share in Europe and ranks as the fourth-largest global crypto ETP provider behind BlackRock, Grayscale, and Fidelity. Its AUM has tripled over two years through product innovation and institutional inflows.

CEO Jean-Marie Mognetti framed the listing as a transformational play for global leadership, citing the U.S. as the epicenter of digital asset innovation. CoinShares brings proven profitability to the table, with 76% adjusted EBITDA margins in H1 2025.