CoinShares Lists on Nasdaq via SPAC at $1.2B Valuation

Published: 2025-09-10 23:06:24 |

CoinShares Nasdaq debut via a $1.2 billion SPAC merger with Vine Hill Capital and Odysseus Holdings completed on September 8, making it the first European Web3 company on a major U.S. exchange. The transaction values CoinShares about 37% above its Stockholm market cap and includes a $50 million anchor investment. Founded in 1998, CoinShares pivoted to digital assets in 2014 and now manages over $8 billion in assets (AUM), ranking fourth globally. In Q1–Q2 2025, it reported revenues of $39.96 million and $41.52 million with a 75% EBITDA margin. Asset management accounts for 74% of revenue, while capital markets and proprietary trading remain volatile. Backed by clearer U.S. regulation and rising institutional interest, the CoinShares Nasdaq SPAC listing aims to boost U.S. growth and set a benchmark for European crypto firms.

Bullish

CoinShares’ successful SPAC listing on Nasdaq signals stronger institutional adoption and improved liquidity for digital assets, a bullish catalyst for Bitcoin and related markets. In the short term, heightened media coverage and fresh capital inflows could push Bitcoin prices higher as U.S. investors gain easier access through regulated vehicles. Over the long term, the move underscores growing regulatory clarity and cross-border expansion by leading asset managers, which should support sustained demand and market maturation.