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Benzinga
  • 5 hours ago
CoinShares begins Nasdaq trading Wednesday after completing a SPAC merger with Vine Hill Capital, valuing the firm at ~$1.2B with a $50M institutional investment. The crypto asset manager oversees $6B in assets and has been profitable since 2014. The debut comes amid risk-averse sentiment and a 40% Bitcoin decline from its October peak.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Coinshares will begin trading on Nasdaq on Wednesday after completing a SPAC
00:06merger with Fine Hill Capital to form Coinshares PLC, according to CNBC. The deal values the
00:12company at about $1.2 billion and includes a $50 million investment from institutional investors.
00:19The crypto asset manager oversees $6 billion in assets and offers ETFs,
00:24active strategies, and on-chain asset management.
00:27CEO Jean-Marie Magnetti said the U.S. listing aims to accelerate growth in the American market.
00:33The debut follows a wave of crypto IPOs, but comes during a period of risk-averse sentiment
00:38and a six-month decline in crypto stocks. Bitcoin is down 40% from its October peak.
00:44Coinshares said it has been profitable every year since 2014.
00:47For all things money, visit Benzinga.com.
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