Coinshares的$ 1.2B收購：反向合併大師班

Coinshares通過其12億美元的反向合併引起了海浪。此舉標誌著數字資產格局的重大轉變，我們正在研究細節。

CoinShares, a big name in European digital asset management, is shaking things up. Their $1.2 billion reverse merger to go public in the U.S. is a bold move, and everyone's watching. Here's the lowdown on what it all means.

Coinshares是歐洲數字資產管理中的大牌，正在震撼。他們12億美元在美國上市的反向合併是一個大膽的舉動，每個人都在註視。這是一切含義的低點。

The Big Picture: CoinShares and the Reverse Merger

大局：Coinshares和反向合併

On September 8, 2025, CoinShares announced its plan to go public in the U.S. through a merger with Vine Hill Capital Investment Corp., a Nasdaq-listed SPAC. This isn't just a simple listing; it's a strategic play to tap into the world's largest asset management market. Valuing CoinShares at $1.2 billion, this merger positions them as a major player on the global stage.

2025年9月8日，Coinshares宣布了與Vine Hill Capital Investment Investment Corp.的合併，該計劃在美國公開公開。這不僅僅是一個簡單的清單；這是一場戰略性的，可以利用世界上最大的資產管理市場。這次合併將Coinshares的評價為12億美元，使他們成為全球舞台上的主要參與者。

Why the U.S.?

為什麼美國？

The U.S. market is where it's at for digital asset innovation. With clearer regulations and growing institutional interest, CoinShares is betting big on the American crypto scene. Jean-Marie Mognetti, CoinShares' CEO, sees this as a "decisive inflection point" for digital assets, and he's not wrong. The firm’s Nasdaq listing is expected to boost its credibility and expand its reach in the U.S., where demand for crypto-linked products is surging.

美國市場是數字資產創新的位置。隨著法規的清晰和機構的興趣，Coinshares在美國加密貨幣舞台上押注。 Coinshares首席執行官Jean-Marie Mognetti認為這是數字資產的“決定性拐點”，他沒有錯。該公司的NASDAQ上市有望提高其信譽，並擴大其在美國的覆蓋範圍，在美國對加密產品的需求正在激增。

The Numbers Don't Lie

數字不撒謊

CoinShares isn't just talk; they've got the numbers to back it up. They're the fourth-largest global manager of digital asset ETPs, dominating the EMEA region with a 34% market share. Their AuM has skyrocketed by over 200% in the past two years, and their adjusted EBITDA margin hit 76% in the first half of 2025. That's serious growth.

Coinshares不只是說話。他們有數字來支持它。他們是數字資產ETP的第四大全球經理，以34％的市場份額為主導EMEA地區。在過去的兩年中，他們的AUM飆升了200％以上，並且他們調整後的EBITDA利潤率在2025年上半年達到了76％。這是嚴重的增長。

What's Next? Odysseus Holdings Limited

接下來是什麼？奧德修斯控股有限公司

Once the merger closes by the end of 2025, the combined entity will be known as Odysseus Holdings Limited and will trade on Nasdaq. Nicholas Petruska, CEO of Vine Hill, calls it a strategic investment in a “high-value” opportunity, highlighting CoinShares’ market leadership and scalable business model. This move gives CoinShares greater access to capital and distribution channels, allowing them to roll out next-gen digital asset products.

合併在2025年底結束後，合併後的實體將被稱為奧德修斯控股有限公司，並將在納斯達克交易。 Vine Hill首席執行官Nicholas Petruska稱其為“高價值”機會的戰略投資，強調了Coinshares的市場領導力和可擴展的商業模式。此舉使Coinshares更加訪問資本和分銷渠道，從而使他們能夠推出下一代數字資產產品。

The MicroStrategy Effect

微型效果

While CoinShares is making moves via acquisition, it's impossible not to look at how some other companies are playing the field. Strategy, led by Michael Saylor, keeps scooping up Bitcoin, recently adding 1,955 BTC at an average price of $111,196. Their treasury now holds a whopping 638,460 BTC! While CoinShares focuses on broader digital asset management, MicroStrategy's aggressive BTC accumulation shows a different side of the crypto treasury game.

儘管Coinshares正在通過收購進行動作，但不可能不考慮其他一些公司在該領域中的發揮作用。由邁克爾·塞勒（Michael Saylor）領導的策略不斷挖掘比特幣，最近以111,196美元的價格增加了1,955 BTC。現在，他們的財政部擁有高達638,460 BTC！儘管Coinshares專注於更廣泛的數字資產管理，但MicroStrategy積極的BTC積累顯示了加密貨幣遊戲的另一面。

American Bitcoin Joins the Fray

美國比特幣加入競爭

Gryphon Digital Mining's merger with American Bitcoin (linked to the Trump family) is another interesting development. After the merger, the combined entity will trade under the ticker symbol “ABTC.” This reverse merger offers American Bitcoin a fast track to public markets. It’s yet another sign that everyone wants a piece of the publicly traded crypto pie.

格林法數字採礦與美國比特幣的合併（與特朗普家族相關）是另一個有趣的發展。合併後，合併後的實體將在股票符號“ ABTC”下進行交易。這種反向合併為美國比特幣提供了對公共市場的快速軌道。這是每個人都想要一塊公開交易的加密派的又一個跡象。

Final Thoughts: To the Moon?

最終想法：月球？

CoinShares' reverse merger is more than just a financial transaction; it's a sign of the times. As digital assets gain mainstream acceptance, expect more strategic moves like this. The U.S. market is heating up, and CoinShares is ready to ride the wave. Will they succeed? Only time will tell, but one thing's for sure: the crypto world is never boring!

Coinshares的反向合併不僅僅是一項金融交易；這是時代的標誌。隨著數字資產獲得主流接受，期望這樣的戰略性舉動。美國市場正在加熱，Coinshares已準備好騎波浪。他們會成功嗎？只有時間會說明，但是可以肯定的是：加密世界永遠不會無聊！