CoinShares to go public via SPAC merger with Vine Hill Capital in a $1.2bn deal.

CoinShares, an asset manager specializing in digital assets, agreed to go public via SPAC merger with Vine Hill Capital, a publicly traded special purpose acquisition company, in a $1.2bn deal. "CoinShares exemplifies everything we look for in a high-value investment: market leadership, a proven, scalable business model, a massive and expanding addressable market, and a team with the proven ability to execute. CoinShares' proven EMEA playbook and expertise featuring a recurring fee-based revenue model supplemented with strong historical gains and income from a variety of trading activities which together have resulted in a consistently impressive ~70% adjusted EBITDA margins in CY2024, combined with U.S. capital markets access and distribution, creates an unstoppable growth engine," Nicholas Petruska, Vine Hill CEO.