Bitcoin News Today: CoinShares Makes Bold Move to U.S. as Digital Assets Mature

CoinShares International Limited, the leading European asset manager specializing in digital assets with approximately $10 billion in assets under management (AuM), announced on September 8, 2025, that it is set to go public in the United States through a $1.2 billion merger with Vine Hill Capital Investment Corp. (VCIC), a Nasdaq-listed special purpose acquisition company (SPAC) [4]. This transaction represents a strategic shift for CoinShares, which will transition its listing from Nasdaq Stockholm to the U.S. market, positioning itself to expand in the world’s largest asset management market [5].

CoinShares currently ranks as the fourth-largest global manager of digital asset exchange-traded products (ETPs), trailing only BlackRock, Grayscale, and Fidelity. The firm also dominates the European, Middle Eastern, and African (EMEA) region with a 34% market share [1]. The company has experienced significant growth over the past two years, with AuM increasing by more than 200%. This growth has been driven by strong investor inflows, favorable pricing for digital assets, and the successful launch of new products [4]. As of June 2025, CoinShares reported a 76% adjusted EBITDA margin in the first half of the year, compared to 68% in the full year of 2024 [5].

The merger values CoinShares at $1.2 billion on a pro forma basis, positioning it as one of the largest publicly traded digital asset managers globally. The deal is anchored by a $50 million institutional investment in common equity, signaling confidence in the company’s future potential. Jean-Marie Mognetti, CEO and co-founder of CoinShares, emphasized that the move reflects a “decisive inflection point” for digital assets as an investment class, particularly with improved regulatory clarity in the U.S. [6]. The firm’s listing on Nasdaq is expected to reinforce its credibility and expand its reach in the U.S., where demand for crypto-linked products is growing rapidly.

The merger is part of a broader trend of institutional players seeking to capitalize on the evolving crypto market. With the global asset management industry reaching a record $128 trillion in AuM in 2024—over half of which is managed in the U.S.—CoinShares aims to leverage its European expertise and proven business model to capture a larger share of the U.S. market [1]. The firm has evolved from offering just four products in 2021 to a diversified portfolio of 32 products across four platforms. Its product suite includes crypto ETPs for major tokens like Bitcoin and Ethereum, crypto indices ETPs, and equity products targeting the broader digital asset ecosystem [5].

The deal is expected to close by the end of 2025, subject to shareholder and regulatory approvals. Upon completion, the combined entity will be named Odysseus Holdings Limited (Holdco), and its shares will trade on Nasdaq. Nicholas Petruska, CEO of Vine Hill, described the transaction as a strategic investment in a “high-value” opportunity, highlighting CoinShares’ market leadership, recurring fee-based revenue model, and scalable business structure [5]. The U.S. listing will also provide CoinShares with greater access to capital and distribution channels, enabling it to introduce next-generation digital asset products that go beyond traditional beta exposure.

The U.S. market is increasingly becoming a focal point for digital asset innovation, and regulatory developments are creating a more favorable environment for compliant operators. With the approval of spot Bitcoin ETFs and growing institutional interest in tokenization and on-chain financial products, CoinShares is well-positioned to benefit from the industry’s expansion. The firm’s ability to generate strong free cash flow and maintain high operating margins further supports its long-term growth potential [4].

Source:

[1] title1 (https://investor.coinshares.com/pressreleases/coinshares-to-go-public-in-the-u-s-through-us-1-2-billion-business-combination)

[2] title2 (https://www.coindesk.com/business/2025/09/06/stripe-ceo-patrick-collison-explains-why-businesses-are-turning-to-stablecoins)

[3] title3 (https://www.coindesk.com/business/2025/09/06/bitcoin-and-stablecoins-dominate-as-india-u-s-top-2025-crypto-adoption-index)

[4] title4 (https://news.bloomberglaw.com/banking-law/fed-chair-finalist-hassett-backs-mission-creep-criticism)

[5] title5 (https://www.prnewswire.com/news-releases/coinshares-to-go-public-in-the-us-through-us1-2-billion-business-combination-302549034.html)

[6] title6 (https://www.coindesk.com/business/2025/09/08/coinshares-to-go-public-in-u-s-through-usd1-2b-spac-deal-with-vine-hill)