European asset manager Coinshares has signed a definitive business combination agreement with Vine Hill Capital Investment, a publicly available special purpose acquisition company (SPAC).
Coinshares announced Monday that the company will be made public to the US Nasdaq stock market through trading. This allows investors to participate directly in coin share stock trading and promote global expansion plans.
A SPAC is a publicly available shell company created with the sole purpose of mergers or acquisitions with existing companies. This allows businesses to publish without going through the traditional initial public offering (IPO) process.
The deal focuses on a $1.2 billion coin share prior to new investments, marking a key step in the company’s push to the US.
US list to capture demand in the largest ETP market
“The transaction represents more than a change in the venue for listings from Sweden to the US,” said Jean-Marie Mognetti, co-founder and CEO of Coinshares, adding that it marks a coin share transition aimed at accelerating global leadership ambitions.
Mognetti added that the move will allow coin shares to gain demand in the “world’s largest asset management market.”
Coinshares manages around $10 billion in assets and is ranked as the fourth largest provider of crypto exchange sales products (ETPs) after BlackRock, Grayscale and Fidelity. In Europe, it leads the market with a 34% share of managed assets (AUM).
On August 29th, Coinshares recorded a profit of $32.4 million in the second quarter of 2025. The company reported a 26% increase in AUM to $3.46 billion. The company attributes quarterly growth to valuations of Bitcoin (BTC) and Ether (ETH).
Related: Crypto ETPS Post Loss $1.4 billion amid recent Bitcoin and ether sale
Coinshare is undergoing a US merger that is scheduled to close in late 2025
The merger is also supported by a $50 million anchor investment from institutional supporters. The funds are expected to provide the company with fresh capital and wide access to US investors.
“For digital assets as an investment class and blockchain as a transformational technology, we have reached a critical inflection point and can no longer be ignored.
Mergers subject to regulatory and shareholder approvals are expected to close in the second half of 2025.
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