CoinShares, one of Europe’s largest digital asset managers, is heading to Wall Street. The company announced Monday that it will go public in the United States through a $1.2 billion merger with Vine Hill Capital Investment Corp (VCIC)., a Nasdaq-listed SPAC.
The deal shifts CoinShares’ listing from Stockholm to New York, opening access to U.S. capital markets and investors. The firm manages about $10 billion in assets, including a suite of 32 crypto exchange-traded products (ETPs) covering bitcoin, ether, solana and other tokens. CoinShares ranks as the fourth-largest global provider of digital asset ETPs, behind BlackRock, Grayscale and Fidelity, and holds a 34% share of the European, Middle Eastern and African market.
Chief Executive Jean-Marie Mognetti said the move reflects a turning point for digital assets as U.S. regulation provides more clarity. “The case for digital assets as an investment class has reached a decisive inflection point,” he said. “A U.S. listing will reinforce our credibility and expand our reach.”
For U.S. investors, the transaction could mean greater access to crypto-linked products from a manager that has grown assets more than 200% over the last two years. CoinShares reported a 76% adjusted EBITDA margin in the first half of 2025, signaling strong profitability compared with peers.
The deal, approved by both companies’ boards, is expected to close by the end of 2025 pending regulatory and shareholder approvals. If completed, CoinShares will trade on Nasdaq under a new parent company, Odysseus Holdings Limited.