CoinShares, with $6 billion in AUM, to list on Nasdaq… “Expanding U.S. business”
Summary
- CoinShares will list on Nasdaq through a SPAC merger, with the ticker “CSHR.”
- CoinShares holds about 34% of the EU crypto ETP market and is currently managing 39 products, according to the report.
- CoinShares said it is diversifying its revenue structure through product development, M&A, and decentralized finance (DeFi) as it expands its U.S. business.
Forecast Trend Report by Period
CoinShares, a European Union (EU) crypto asset manager, is set to list on the Nasdaq in the United States.
According to CoinDesk on the 1st (local time), CoinShares will list on the Nasdaq through a merger with the SPAC (special purpose acquisition company) Vine Hill Capital Investment. As a result of the deal, the holding company “CoinShares PLC” was established, and its Nasdaq ticker is “CSHR.”
CoinShares is an asset manager that runs cryptocurrency exchange-traded products (ETPs), primarily in Europe. The number of crypto ETPs managed by CoinShares is reported to be 39. CoinShares’ share of the EU crypto ETP market is about 34%.
The Nasdaq listing is also seen as a turning point that could allow CoinShares to accelerate its U.S. expansion. CoinDesk said, “(This listing) means investors now have access to a new U.S.-based crypto investment vehicle via a company that has already established a presence in Europe,” adding that “CoinShares’ expansion in the U.S. market will include product development and mergers and acquisitions (M&A).”
CoinShares CEO Jean-Marie Mognetti said, “We are diversifying our products and revenue streams, including listed asset management, active alternative investment strategies, and decentralized finance (DeFi).”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
