CoinShares has officially listed on the Nasdaq, marking its entry into U.S. public markets after completing a $1.2 billion merger with a special purpose acquisition company.

The crypto asset manager will trade under the ticker CSHR following its business combination with Vine Hill Capital Investment Corp., a Nasdaq-listed vehicle. The deal was previously disclosed in September 2025.

Merging with the SPAC created a new holding entity that serves as its public parent, according to an announcement issued Wednesday.

CoinShares manages more than $6 billion in digital assets and ranks among the largest crypto-focused asset managers globally, alongside firms such as BlackRock, Fidelity, and Grayscale. It has built its business around exchange-traded products, trading, and institutional investment services, with a fee-based model designed to generate recurring revenue.

Executives said the Nasdaq debut would support product expansion and improve access to research coverage and investor flows as digital assets become more embedded in traditional finance.

"This listing is about more than a change of venue," Jean-Marie Mognetti, co-founder, President and CEO of CoinShares, remarked in a statement. Mognetti added that the Nasdaq move reflects the firm’s growth "from a pure-play ETP provider into a diversified asset manager specializing in digital assets."

CoinShares was already public in Europe, having listed in Stockholm in 2021 and later upgrading to the exchange’s main market.

The firm’s listing in the U.S. has coincided with institutional demand for crypto exposure via service operators.

CoinShares now joins a growing group of crypto-native firms turning to public markets, including Circle, Gemini, Bullish, and BitGo, as the sector looks to broaden its institutional footprint.

Separately, blockchain data tracked by Arkham shows CoinShares moved 10,720 BTC — worth roughly $720 million — to new wallets over the past two days, the largest outflow tied to the firm on record.