CoinShares, a prominent player in Europe’s digital asset management sector, is making a significant move to solidify its presence in the U.S. financial landscape. The company recently announced that it is set to go public in the United States through a merger with Vine Hill Capital Investment Corp (VCIC), a special purpose acquisition company (SPAC) listed on Nasdaq, in a deal valued at $1.2 billion.
This transition will shift CoinShares’ listing from Stockholm to New York, enabling the company to access U.S. capital markets and attract more investors. Currently, CoinShares manages approximately $10 billion in assets and offers a diverse portfolio that includes 32 crypto exchange-traded products (ETPs) focused on major cryptocurrencies such as bitcoin, ether, and solana. The firm is recognized as the fourth-largest global provider of digital asset ETPs, trailing behind industry giants BlackRock, Grayscale, and Fidelity. CoinShares also commands a notable 34% share of the market across Europe, the Middle East, and Africa.
Jean-Marie Mognetti, CoinShares’ Chief Executive, emphasized the significance of this move, suggesting that it represents a critical inflection point for the digital assets sector. With U.S. regulatory frameworks becoming clearer, Mognetti expressed optimism about the future. “A U.S. listing will reinforce our credibility and expand our reach,” he explained, highlighting the potential benefits this merger could bring to both the company and investors.
The merger is expected to provide U.S. investors with enhanced access to various crypto-linked products from a firm that has seen astonishing growth, with assets increasing by over 200% in the past two years. Furthermore, CoinShares reported an impressive 76% adjusted EBITDA margin during the first half of 2025, underscoring its strong profitability in comparison to industry peers.
Pending regulatory and shareholder approvals, the deal has already received backing from both companies’ boards and is anticipated to finalize by the end of 2025. Upon completion, CoinShares is expected to trade on Nasdaq under a new parent company, Odysseus Holdings Limited, marking a pivotal chapter in its strategic growth and expansion in the digital asset market.
