CoinShares, the premier European digital asset manager with $10 billion in AUM, announced a merger with Vine Hill Capital Investment Corp. The merger will enable CoinShares to go public in the U.S., allowing investors to partake in CoinShares’ ongoing growth.
The firm is the largest digital asset manager in EMEA and the fourth-largest globally. Expansion into the U.S. market in recent years via ETFs reflects CoinShares’ trajectory as a global player. With organic inflows resulting in over 200% AUM growth in the last two years and a valuation of $1.2 billion premoney on a pro forma basis, a public listing creates further opportunity for investors to expand their digital asset holdings.
“The U.S. is now serving as the crucible of the digital asset space,” said Jean-Marie Mognetti, CEO and co-founder of CoinShares, in the press release. “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.”
The firm’s U.S. listing builds on a legacy initially started in Europe, and honed over the last 10 years. The scalable business model and range of offerings reflect CoinShares’ adaptability and attractiveness to a range of investors. The firm currently offers four platforms and 32 products. It has generated the most rapid growth among European digital asset managers in the last two years.
The expansion into U.S. markets with four ETFs in the last three years reflects the growing opportunity set for U.S. and global investors. Recent regulatory tailwinds in the U.S. also create a favorable backdrop for the listing and ongoing digital asset growth.
“CoinShares has established credibility with ETF-minded advisors around the globe seeking to learn about cryptocurrency,” said Todd Rosenbluth, head of research at VettaFi. “It’s great to see the public market recognize the firm’s growth.”
4 CoinShares ETFs for U.S. Crypto Investors
The CoinShares Valkyrie Bitcoin Fund (BRRR) provides exposure to bitcoin’s price movements with the ease of access through traditional brokerages. The fund seeks to reflect the price performance of the CME CF Bitcoin Reference Rate – New York Variant, minus fees and expenses. The fund is a trust that passively holds bitcoin (meaning it’s physically backed). Shares held are tied to the value of the bitcoin held. BRRR carries management fees of 0.25%.
The CoinShares Valkyrie Bitcoin Miners ETF (WGMI) invests in those companies earning at least half their profits or revenue from bitcoin mining. The fund invests in companies providing hardware, software, or services to bitcoin mining companies. Additionally, the strategy seeks companies that manufacture specialized chips used in bitcoin mining. WGMI does not invest in bitcoin. It carries an expense ratio of 0.75%.
The CoinShares Bitcoin and Ether ETF (BTF) combines bitcoin and ether investing in a single strategy. The actively managed fund invests in both bitcoin futures and ether futures while investing in cash or U.S. Treasuries and corporate bonds for collateral and liquidity. This provides exposure to the price performance of the two largest cryptocurrencies by market cap. BTF does not invest directly in BTC or ETH, and carries an expense ratio of 1.25%.
The CoinShares Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX) seeks twice the daily performance of the S&P CME Bitcoin Futures Excess Return Index. Leveraged performance is relevant only to a single trading day and carries additional risks. As such, only experienced investors should consider leveraged products such as BTFX. The fund does not invest directly in bitcoin. It carries an expense ratio of 1.86%.
For more news, information, and strategy, visit the CoinShares Crypto ETF Hub.
