CoinShares is planning to shift its Nasdaq listing from Stockholm to New York through a $1.2 billion merger with “blank cheque” firm Vine Hill Capital.
Asset Manager CoinShares Plans $1.2bn Nasdaq Stock Exchange Listing
9 September 2025 - 21:35 CEST
The company’s share price hit an all-time high on the news, just surpassing the previous peak last Thursday.
Booming AuM
The move highlights just how far this crypto-themed firm has come, compared to some of the modern titans of asset management.
In a presentation, CoinShares said it ranks fourth among asset managers with crypto exchange-traded products under management. The leaders are BlackRock, Grayscale and Fidelity. As of 31 Aug, it had around $9.1 billion assets under management (AuM). For context, BlackRock had nearly ten times that amount.
Furthermore, CoinShares oversees more in ETPs (exchange-traded products) than any other asset manager in the Europe, Middle East and Africa region, with a 34% market share, it said.
Regulator tailwinds
The move to a New York listing follows “favourable regulatory tailwinds,” CEO Jean-Marie Mognetti said in a press release.
“The US is now serving as the crucible of the digital asset space,” Mognetti added. “By listing in the United States, CoinShares is positioning itself to meet growing investor demand and to participate more fully in the evolution of this new industry.”
Race to complete
CoinShares started operations in 2014, with a Bitcoin hedge fund regulated by the Jersey Financial Services Commission, followed by the acquisition of its first crypto ETP in 2016. Since then, it has grown to being a digital asset manager, offering investments that provide access to digital assets, in particular ETPs.
Both the CoinShares and Vine Hill Captial Boards have signed off on the deal. It now needs approval from shareholders and regulators, with an expected conclusion by the end of 2025.
