CoinShares lists on Nasdaq in $1.2B SPAC deal

CoinShares has begun trading on Nasdaq under the ticker CSHR following the completion of a $1.2 billion SPAC merger with Vine Hill Capital Investment Corp.

The European crypto asset manager is entering US public markets to attract institutional capital, expand visibility and strengthen its presence in the world’s largest financial market.

The transaction includes a $50 million capital commitment from institutional investors and marks a venue shift for the firm, which was already publicly listed in Europe.

CoinShares manages more than $6 billion in assets and is known for its crypto exchange-traded products listed on European exchanges.

The listing comes during a challenging period for crypto-linked equities, with the company’s Bitcoin Mining ETF down more than 22% over the past six months.

Following the announcement the CoinShares share price was unchanged at $XX.

The broader crypto market has faced pressure from falling asset prices, lower trading volumes and a major liquidation event that triggered widespread deleveraging.

Despite the downturn, some analysts believe crypto stocks may be nearing a bottom as investors look ahead to upcoming earnings and potential recovery.

At the time of reporting, Bitcoin price was $67,277.30.