The European
digital asset giant is making a blockbuster entry into the U.S. market, aiming
to expand its $10 billion platform and challenge industry leaders on their home
turf.
LONDON, UK – Coinshares International Ltd. (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a
leading European digital asset manager, is set to go public in the United
States through a merger with the Nasdaq-listed SPAC, Vine Hill Capital Investment Corp. The deal,
announced on September 8, values Coinshares at a formidable $1.2 billion and marks a major strategic push into the
lucrative American market. 🇺🇸
This move is
designed to expand Coinshares' global reach and provide U.S. investors with
direct access to its suite of digital asset products. In an official statement, the asset
manager highlighted the significance of the transaction:
"The
transaction values Coinshares at US$1.2 billion on a pro forma, pre-money
basis, positioning it as one of the largest publicly traded, pure-play digital
asset managers globally." 💰
Coinshares is
entering the U.S. market on a wave of powerful momentum. The firm has tripled
its Assets Under Management (AUM) over the past two years to approximately $10 billion, a staggering growth of over 200%. This surge was
driven by favorable market conditions, successful new product launches, and strong
organic inflows. With a dominant 34% market share of all digital asset exchange-traded products
(ETPs) in Europe, Coinshares is a regional leader and ranks fourth globally,
trailing only industry titans Blackrock, Fidelity, and Grayscale.
The company's
product line has expanded to 32 offerings, with its Coinshares Physical
platform standing out as the fastest-growing digital asset ETP platform in
Europe. 📈
The merger is
supported by a $50 million PIPE (Private Investment in Public Equity) from a
cornerstone institutional investor. Upon closing, a new entity named Odysseus Holdings Ltd. will be formed as the combined company. Nicholas
Petruska, CEO of Vine Hill, praised the deal, calling Coinshares a "high-value
company with a scalable model and strong profitability," pointing to its
impressive adjusted EBITDA margins of nearly 70% in 2024.
The business
combination has received unanimous approval from the boards of both companies
and is expected to be finalized by the end of 2025, pending shareholder and
regulatory approvals. This Nasdaq listing signals Coinshares' clear intent to
compete at the highest level of global finance. 🤝
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