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Не все хотят разбираться в тонкостях цифровых активов. Многие технические детали требуют определенного «порога вхождения», для чего необходимо понимать общие принципы работы блокчейна. Для тех, кто не хочет тратить на это свое время, создали криптовалютные карты.

CoinShares, a European-based crypto asset manager, has announced its intention to go public in the United States through a merger with Vine Hill Capital Investments, a special purpose acquisition company (SPAC). 

In a press release on Monday, CoinShares announced its plan, which will see the company listed on the Nasdaq Stock Market. This marks a key step in the firm’s expansion for US investors, following key regulatory breakthroughs in the country for digital assets.

CoinShares’ Expansion Into American Markets

The merger, formalized through a definitive business combination agreement, values CoinShares at approximately $1.2 billion on a pro-forma basis, positioning the company among the largest publicly traded digital asset managers. 

This transaction is expected to accelerate CoinShares’ international growth, particularly in the US market, which is increasingly recognized as a key hub for digital assets under President Donald Trump’s administration.

Jean-Marie Mognetti, CEO and Co-Founder of CoinShares stated that the move is not merely a change of listing venue from Sweden to the United States but a significant step toward achieving global leadership in the digital asset space. 

By establishing a presence in the US, CoinShares aims to meet the rising demand from investors and leverage its experience to introduce a new suite of products tailored for American clients. Mognetti concluded by stating: 

Our European playbook, built and refined over a decade, is proven and effective. We are now deploying this experience to bring a new suite of products to American investors. A US listing will reinforce our credibility, expand our reach, and position us to capture the opportunity in the world’s largest asset management market, home to over half of global assets under management.

Countdown To Q4 End

CoinShares has established itself as a key player in the digital asset management space, currently ranking as the fourth-largest manager of digital asset exchange-traded products (ETPs) globally. 

With around $10 billion in assets under management (AuM) — a figure that has tripled over the past two years — the company boasts a product offering that has expanded from four products in 2021 to a suite of 32 across various platforms. 

The company’s operating model is designed for scalability, featuring a diverse array of products such as crypto ETPs for Bitcoin (BTC), Ethereum (ETH), and Solana SOL), alongside equity products targeting the broader digital asset ecosystem. 

Both CoinShares and Vine Hill’s boards of directors have unanimously approved the business combination, which is anticipated to close by the end of the fourth quarter of 2025, pending shareholder and regulatory approvals. 

Featured image from DALL-E, chart from TradingView.com 

Metaplanet Inc. moved again into the Bitcoin zone as part of its treasury plan, buying 136 Bitcoin for about $15.2 million at an average price of $111,783 per coin.

According to the company, that brings its total holdings to 20,136 coins. The purchase keeps Metaplanet among the larger corporate holders of the crypto.

Metaplanet Expands Bitcoin Stack

The company reported the fresh buy on Monday. Based on reports, Metaplanet now sits as the sixth-largest corporate holder of Bitcoin.

At the time of the purchase, Bitcoin traded around $111,580, putting the new units close to current market levels. The move underscores how some firms are turning parts of their balance sheets into crypto exposure rather than sticking only to their core businesses.

Market Reaction Was Cool

Shares of Metaplanet did not climb after the disclosure. They fell 2.3% in Tokyo trade on Monday and were trading near a four-month low, extending nearly a 20% rout from the prior week.

Reports show the stock slide has tracked a drop in Bitcoin’s price after profit-taking followed August’s record highs. Investors appear skittish when a company’s share price is tied tightly to a volatile asset.

*Metaplanet Acquires Additional 136 $BTC, Total Holdings Reach 20,136 BTC* pic.twitter.com/c41t6bJg1L

— Metaplanet Inc. (@Metaplanet_JP) September 8, 2025

Investors Weigh ETFs Versus Direct Exposure

Part of the pushback comes from alternatives. Exchange-traded funds now give retail and institutional investors direct bitcoin exposure without owning a company whose core business may not reflect the crypto bet.

Strategy, formerly MicroStrategy, remains the biggest corporate holder with 636,505 coins. Strategy logged nearly a 15% loss in August as Bitcoin pulled back, showing how a firm’s valuation can swing with crypto prices.

Questions have been raised about whether holding Bitcoin on a company balance sheet still offers the same appeal it once did.

Valuation And Volatility Concerns Persist

Metaplanet’s market value — around $5 billion, based on recent trading — has drawn scrutiny because it exceeds the current market value of the bitcoin on its books.

Critics warn that tying a company’s shares to Bitcoin can make the stock more vulnerable to crypto’s swings. New players, including Metaplanet and Gamestop, tried to copy the strategy and have met mixed results so far.

Market Crowding Could Limit Future Gains

Analysts also point to crowding: many companies chasing the same story could blunt future upside for treasury-play stocks if fresh buyers stop showing up.

Strategy achieved big gains after late-2023 purchases, funded in part through large share and debt issuances. That path may be harder to repeat now that more investment routes exist.

For now, Metaplanet keeps adding to its bitcoin pile while its shares remain under pressure. Reports suggest the next moves by both Bitcoin and markets will decide whether that bet looks smart or risky in hindsight.

Featured image from Unsplash, chart from TradingView