European digital asset manager CoinShares began trading on the Nasdaq under ticker symbol CSHR on Wednesday, bringing its $6 billion in assets under management to U.S. markets through a completed business combination with special purpose acquisition company Vine Hill Capital Investment Corp.

The transaction, first announced last September, values CoinShares at $1.2 billion, positioning the firm to compete directly with BlackRock, Fidelity, and Grayscale in the institutional crypto market.

The listing marks a strategic pivot for CoinShares as it seeks to differentiate itself through specialized products. Benoit Pellevoizin, the company’s head of marketing and communications, told Decrypt that CoinShares will focus on “exotic…