The cryptocurrency listing frenzy continues! CoinShares plans to debut on the US stock market through a SPAC.

Cryptocurrency asset management company CoinShares International Ltd. has reached an agreement to go public in the United States through a merger with blank check company Vine Hill Capital Investment Corp. (VCIC.US). According to a statement released by CoinShares, the transaction values CoinShares at $1.2 billion before the merger. The company is known for its cryptocurrency exchange-traded products and manages assets of around $10 billion. Its stock currently trades on the Stockholm Nasdaq exchange, and after the merger, CoinShares will apply to delist from the Swedish stock exchange. This year, against the backdrop of a regulatory environment that has become clearer under the cryptocurrency-friendly Trump administration, dozens of cryptocurrency companies have entered the U.S. capital markets through direct listings or mergers with blank check companies (also known as Special Purpose Acquisition Companies, or SPACs), with CoinShares being one of them. Other similar companies that have successfully listed in the U.S. recently include stablecoin issuer Circle Internet Group Inc. (CRCL.US) and cryptocurrency exchange Bullish (BLSH.US). CoinShares co-founder and CEO Jean-Marie Mognetti said in a statement, "Listing on the U.S. capital market will enhance the company's credibility, expand business coverage, and help us seize opportunities in the world's largest asset management market - a market that holds over half of the world's managed assets." Mognetti added, "This marks a strategic transformation for CoinShares. With favorable regulatory trends supporting us, our vision to achieve a leading position in the global industry will accelerate." Currently, both the boards of directors of CoinShares and Vine Hill have approved the merger, with approvals still needed from both sets of shareholders and regulatory agencies. The company revealed that 85% of CoinShares shareholders have expressed support for the transaction. After the completion of the transaction, the merged entity will be named Odysseus Holdings Limited (Holdco for short). The transaction has received commitments of $50 million in common stock investments from institutional investors and is expected to be completed by the end of the fourth quarter of this year.