CoinShares announced a proposed business combination with Vine Hill Capital Investment Corp. on September 8, 2025, valuing CoinShares at approximately $1.2 billion and providing a route to a US stock-market listing.
The company’s announcement said an institutional investor had committed $50 million in common equity. CoinShares already traded on Nasdaq Stockholm; the transaction was not its first step into public ownership.
Valuation and financing are different numbers
The $1.2 billion figure described the proposed equity valuation. It was not the cash amount CoinShares would receive. The separate placement, transaction expenses and any SPAC shareholder redemptions would affect financing.
The detailed transaction notice described a Jersey scheme of arrangement and a new holding-company structure.
Announcement was not completion
The proposed combination depended on shareholder and court approvals and other closing conditions. Plans for broader US access should therefore be read as the company’s rationale and expectations, rather than completed results.
For background, see our guide to financial claims and investment risk.
Editor’s note: The transaction is described as proposed, and its valuation is separated from cash raised. Conflicting assets-under-management figures have been removed.