CoinShares Announces Plans to Become Publicly Listed in the U.S. with $1.2 Billion Deal

CoinShares Expansion Plans: Going Public in the U.S.

CoinShares, one of Europe’s leading asset managers focusing on digital assets, has announced an ambitious plan to go public in the United States through a significant business combination valued at approximately $1.2 billion. The company currently manages around $10 billion in assets under management (AuM) and ranks among the top four global managers of cryptocurrency exchange-traded products (ETPs), alongside major firms like BlackRock, Fidelity, and Grayscale.

Strategic Growth Driven by Market Demand

The firm’s strategic shift to enter the U.S. market comes during a period of notable growth. Over the past two years, CoinShares has seen its assets under management more than triple, attributed to robust investor inflows and a series of successful product launches. With the anticipated Nasdaq listing, CoinShares aims to leverage its established market position and recent achievements to attract U.S. investors who are increasingly seeking exposure to digital assets.

Jean-Marie Mognetti, the CEO and co-founder of CoinShares, emphasized that this transaction is not merely a change in listing location, but a pivotal step towards achieving global leadership in digital asset management. He stated, “By listing in the United States, CoinShares is positioning itself to meet growing investor demand and participate more fully in the evolution of this new industry.” This shift is underscored by favorable regulatory tailwinds in the U.S. market that are enhancing opportunities for compliant operators.

Transaction Structure and Market Position

The announced business combination involves a partnership with Vine Hill Capital Investment Corp. (NASDAQ: VCIC), a publicly traded special purpose acquisition company (SPAC). The integration will be finalized subject to approval from shareholders and regulatory entities, making CoinShares one of the largest publicly traded digital asset managers globally upon completion. Notably, a key institutional investor has pledged to inject $50 million in equity into the transaction, further solidifying CoinShares’ financial foundation.

Market analysts project that the digital asset management industry will continue to experience significant growth, especially in the U.S. which is projected to hold nearly 50% of global assets under management. CoinShares’ leadership positions it favorably to capitalize on this burgeoning segment with innovative products and extensive experience in the European market.

The CoinShares Advantage

CoinShares holds a top-ranking position as the fourth-largest manager of digital asset ETPs globally, with a commanding 34% market share in EMEA (Europe, the Middle East, and Africa). The firm has diversified its offerings, expanding from four products in 2021 to a comprehensive suite of 32 across various platforms by mid-2025.

This rapid expansion reflects a robust revenue model characterized by strong margins and substantial free cash flow generation—demonstrating the firm’s resilience and adaptability in a volatile digital landscape. CoinShares operates with a recurring revenue model that yielded an impressive 76% adjusted EBITDA margin in the first half of 2025 alone.

Looking Forward

As CoinShares prepares for its public debut, the move is part of a broader strategy to enhance brand credibility, broaden market reach, and tap into the vast potential of the U.S. investment landscape. Investors can look forward to a new suite of products that are designed to meet the evolving needs of American consumers, including innovations in the tokenization of real-world assets.

The transaction is expected to close by the end of the fourth quarter of 2025, paving the way for CoinShares to solidify its footprint in the U.S. market. With the backing of Vine Hill and its seasoned management team, the path ahead seems promising for CoinShares as it embarks on this transformative journey to become a publicly listed company on the Nasdaq.