CoinShares and Vine Hill Submit F-4 Registration Statement for Business Combination
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2025
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Should l Buy VCIC?
Source: Newsfilter
- Merger Progress: CoinShares and Vine Hill submitted the F-4 registration statement to the SEC on November 21, 2025, marking a significant milestone toward their business combination, which is expected to complete by the end of Q1 2026, enhancing CoinShares' market position in digital asset management.
- Financial Transparency: The F-4 includes audited financial statements for 2024 and 2023, along with interim unaudited financials for the first half of 2025, which boosts investor confidence in the transaction and may attract more participants.
- Shareholder Approval: The completion of the merger is contingent upon approval from shareholders of both CoinShares and Vine Hill, as well as meeting customary closing conditions, which will impact the smooth execution of the transaction and maximize stakeholder interests.
- Regulatory Compliance: The merger also requires necessary acts from the Royal Court of Jersey and local regulatory approvals, ensuring compliance that reduces future operational risks and enhances corporate governance standards.
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Analyst Views on VCIC
About VCIC
Vine Hill Capital Investment Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on identifying and acquiring a business, focusing on the industrial and services industries. The Company has not commenced any operations nor generated any revenues.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CoinShares and Vine Hill Merger Progress Update
- Merger Progress: CoinShares and Vine Hill have submitted an amended F-4 registration statement to the SEC, indicating ongoing progress in the regulatory review process of their merger, which is expected to enhance CoinShares' market position in digital asset management.
- Shareholder Approval: The completion of the transaction requires approval from the shareholders of both CoinShares and Vine Hill, highlighting the significance of the merger for shareholder value and reflecting market interest in the consolidation of digital asset management firms.
- Court Hearing Schedule: A hearing at the Royal Court of Jersey is scheduled for February 17, 2026, and if successful, it will pave the way for the final completion of the merger, further boosting market confidence in CoinShares.
- Market Positioning: Founded in 2013, CoinShares is a leading global digital asset manager offering a diverse range of financial services, and the merger will help solidify its advantageous position in the rapidly evolving digital asset market.
See More
CoinShares Announces Merger Plan with Vine Hill Capital
- Merger Announcement: On September 8, 2025, CoinShares announced a merger plan with Vine Hill Capital and Odysseus Holdings to relocate its ordinary shares from Nasdaq Stockholm to the Nasdaq in the U.S., which is expected to enhance liquidity and broaden its investor base in the U.S. market.
- Board Support: All members of CoinShares' Board of Directors have committed to support the merger plan, holding a total of 23,778,129 shares, representing 36.28% of the company's total shares, indicating strong management confidence that may drive shareholder approval.
- Shareholder Voting Commitments: CoinShares has secured voting commitments for 53,297,744 shares, approximately 81.32% of total shares, providing a solid foundation for the merger plan's approval, which is expected to expedite the transaction's completion.
- Market Impact: This merger not only relocates CoinShares' listing to the U.S. but may also attract greater investor interest in the digital asset management sector, further solidifying its leadership position in the global market.
See More
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- Management Team: Led by SPAC veteran Gregory Ethridge as Chairman and CEO, who also serves as a director at Vine Hill Capital Investment Corp., bringing valuable industry experience to guide the company's strategic direction.
- Industry Focus: The company intends to target sectors such as fintech, proptech, industrial technology/infrastructure, and energy transition, aiming to capture market opportunities through a diversified investment portfolio that enhances its competitiveness in rapidly evolving markets.
- Listing Plans: Founded in 2025, Long Table Growth plans to list on Nasdaq under the ticker LTGRU, reflecting its confidence in capital markets and expectations for future growth.
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- Market Leadership: CoinShares holds a 32% share of total AUM in the European crypto ETP market, with over $1 billion in net inflows year-to-date, indicating strong growth potential in digital asset management.
- Regulatory Tailwinds: The AMF's decision to open retail access to regulated crypto ETNs in France marks a new growth phase for the European market, positioning CoinShares to benefit significantly from this policy shift.
- Expanding Investor Base: With over 14 million active retail investors in the UK and nearly one in four adults in France holding financial investments, along with Nordea serving over 9 million private customers, CoinShares' potential customer base is rapidly expanding.
- Enhanced Strategic Partnerships: CoinShares' collaboration with BoursoBank, France's leading online bank, leverages distribution expertise to broaden retail market access, thereby strengthening the company's competitive edge in emerging markets.
See More
CoinShares Withdraws Three ETF Plans, Shifts Focus to Higher-Margin Opportunities
- Strategic Shift: CoinShares has filed to withdraw its registration statements for the XRP ETF, Solana Staking ETF, and Litecoin ETF, aiming to adapt to the consolidation of the U.S. market around large single-asset crypto ETPs, thereby adjusting its product strategy to seek higher-margin opportunities.
- Market Environment Change: CEO Jean-Marie Mognetti noted that the current market offers limited opportunities for differentiation and sustainable margins, necessitating a 'different playbook' to adapt to the evolving competitive landscape.
- New Product Plans: CoinShares aims to introduce new products over the next 12 to 18 months, including crypto equity exposure vehicles, thematic baskets, and actively managed strategies that combine crypto with other assets, to meet market demand and enhance competitiveness.
- Merger Listing Progress: CoinShares reached a merger agreement with special purpose acquisition company Vine Hill Capital Investment Corp in September, with an expected post-merger valuation of $1.2 billion, further solidifying its position in the crypto asset management sector.
See More
CoinShares Halts Certain Crypto ETFs Before US Launch
Withdrawal of ETF Plans: CoinShares has withdrawn its plans to launch three exchange-traded funds (ETFs) focused on XRP, Solana staking, and Litecoin, as it shifts focus to higher-margin opportunities ahead of its U.S. listing.
Market Strategy Shift: CEO Jean-Marie Mognetti indicated that the U.S. market is consolidating around large players, prompting the need for a new strategy to differentiate and maintain sustainable margins.
New Product Development: CoinShares plans to introduce new products in the U.S. market over the next 12 to 18 months, including crypto equity exposure vehicles and actively managed strategies that combine crypto with other assets.
Upcoming Nasdaq Listing: The company is set to list on Nasdaq through a $1.2 billion merger with Vine Hill Capital Investment Corp, having managed around $10 billion in assets as of September.
See More
CoinShares and Vine Hill Merger Progress Update
- Merger Progress: CoinShares and Vine Hill have submitted an amended F-4 registration statement to the SEC, indicating ongoing progress in the regulatory review process of their merger, which is expected to enhance CoinShares' market position in digital asset management.
- Shareholder Approval: The completion of the transaction requires approval from the shareholders of both CoinShares and Vine Hill, highlighting the significance of the merger for shareholder value and reflecting market interest in the consolidation of digital asset management firms.
- Court Hearing Schedule: A hearing at the Royal Court of Jersey is scheduled for February 17, 2026, and if successful, it will pave the way for the final completion of the merger, further boosting market confidence in CoinShares.
- Market Positioning: Founded in 2013, CoinShares is a leading global digital asset manager offering a diverse range of financial services, and the merger will help solidify its advantageous position in the rapidly evolving digital asset market.
See More
CoinShares Announces Merger Plan with Vine Hill Capital
- Merger Announcement: On September 8, 2025, CoinShares announced a merger plan with Vine Hill Capital and Odysseus Holdings to relocate its ordinary shares from Nasdaq Stockholm to the Nasdaq in the U.S., which is expected to enhance liquidity and broaden its investor base in the U.S. market.
- Board Support: All members of CoinShares' Board of Directors have committed to support the merger plan, holding a total of 23,778,129 shares, representing 36.28% of the company's total shares, indicating strong management confidence that may drive shareholder approval.
- Shareholder Voting Commitments: CoinShares has secured voting commitments for 53,297,744 shares, approximately 81.32% of total shares, providing a solid foundation for the merger plan's approval, which is expected to expedite the transaction's completion.
- Market Impact: This merger not only relocates CoinShares' listing to the U.S. but may also attract greater investor interest in the digital asset management sector, further solidifying its leadership position in the global market.
See More
Long Table Growth Files for $200 Million IPO Targeting Fintech and More
- Fundraising Goal: Long Table Growth aims to raise up to $200 million through its IPO by offering 20 million units at $10 each, indicating strong market potential in fintech and other sectors.
- Management Team: Led by SPAC veteran Gregory Ethridge as Chairman and CEO, who also serves as a director at Vine Hill Capital Investment Corp., bringing valuable industry experience to guide the company's strategic direction.
- Industry Focus: The company intends to target sectors such as fintech, proptech, industrial technology/infrastructure, and energy transition, aiming to capture market opportunities through a diversified investment portfolio that enhances its competitiveness in rapidly evolving markets.
- Listing Plans: Founded in 2025, Long Table Growth plans to list on Nasdaq under the ticker LTGRU, reflecting its confidence in capital markets and expectations for future growth.
See More
CoinShares Merges with Vine Hill Capital, Captures 32% AUM Share in Europe
- Market Leadership: CoinShares holds a 32% share of total AUM in the European crypto ETP market, with over $1 billion in net inflows year-to-date, indicating strong growth potential in digital asset management.
- Regulatory Tailwinds: The AMF's decision to open retail access to regulated crypto ETNs in France marks a new growth phase for the European market, positioning CoinShares to benefit significantly from this policy shift.
- Expanding Investor Base: With over 14 million active retail investors in the UK and nearly one in four adults in France holding financial investments, along with Nordea serving over 9 million private customers, CoinShares' potential customer base is rapidly expanding.
- Enhanced Strategic Partnerships: CoinShares' collaboration with BoursoBank, France's leading online bank, leverages distribution expertise to broaden retail market access, thereby strengthening the company's competitive edge in emerging markets.
See More
CoinShares Withdraws Three ETF Plans, Shifts Focus to Higher-Margin Opportunities
- Strategic Shift: CoinShares has filed to withdraw its registration statements for the XRP ETF, Solana Staking ETF, and Litecoin ETF, aiming to adapt to the consolidation of the U.S. market around large single-asset crypto ETPs, thereby adjusting its product strategy to seek higher-margin opportunities.
- Market Environment Change: CEO Jean-Marie Mognetti noted that the current market offers limited opportunities for differentiation and sustainable margins, necessitating a 'different playbook' to adapt to the evolving competitive landscape.
- New Product Plans: CoinShares aims to introduce new products over the next 12 to 18 months, including crypto equity exposure vehicles, thematic baskets, and actively managed strategies that combine crypto with other assets, to meet market demand and enhance competitiveness.
- Merger Listing Progress: CoinShares reached a merger agreement with special purpose acquisition company Vine Hill Capital Investment Corp in September, with an expected post-merger valuation of $1.2 billion, further solidifying its position in the crypto asset management sector.
See More
CoinShares Halts Certain Crypto ETFs Before US Launch
Withdrawal of ETF Plans: CoinShares has withdrawn its plans to launch three exchange-traded funds (ETFs) focused on XRP, Solana staking, and Litecoin, as it shifts focus to higher-margin opportunities ahead of its U.S. listing.
Market Strategy Shift: CEO Jean-Marie Mognetti indicated that the U.S. market is consolidating around large players, prompting the need for a new strategy to differentiate and maintain sustainable margins.
New Product Development: CoinShares plans to introduce new products in the U.S. market over the next 12 to 18 months, including crypto equity exposure vehicles and actively managed strategies that combine crypto with other assets.
Upcoming Nasdaq Listing: The company is set to list on Nasdaq through a $1.2 billion merger with Vine Hill Capital Investment Corp, having managed around $10 billion in assets as of September.
See More
