A Bitcoin-focused investment firm that is supported by Winklevoss Capital and Nakamoto Holdings announced that they plan to go public on the Euronext Amsterdam stock exchange.
The company is called simply Treasury, and they are going to do a reverse merger with Dutch investment firm MKB Nedsense (NEDSE.AS).
As reported by Reuters, in their filings, MKB Nedsense will become Treasury N.V. when the merger is complete, and the combined company will trade under the ticker TRSR.
A shareholder vote on the transaction is expected sometime in the next weeks, and trading could start in the fourth quarter of this year, depending on approval.
Treasury’s Holdings and Valuation Signal Growing Ambition
Currently, their treasury holds over 1,000 BTC (even apart from reserved BTC), so it is one of only a small handful of firms in Europe that are organized solely around a Bitcoin treasury model.
So far, the company has raised €126 million (around $147 million) in private funding, and its upcoming listing on a public market will give it an opportunity to further grow its BTC reserves.
The reverse merger with MKB Nedsense values Treasury at a 72% greater valuation than Nedsense’s last market appraisal, and shares are expected to trade at around €2.10 after completion of the transaction.
This large premium demonstrates investor belief in Treasury’s Bitcoin model and the ability to capture growing demand for regulated digital asset exposure.
Also Read: Metaplanet Announces $1.2 Billion Capital Raise With $835 Million Dedicated To Bitcoin Treasury
Expanding Options for European Bitcoin Investors
The news comes at a time when European investors have limited choice for direct BTC exposure via public markets.
Though exchange-traded products (ETPs) and some regulated investment vehicles exist, we don’t see any fully dedicated Bitcoin treasuries in the region.
Treasury is in a great position to fill that void and attract institutional and retail investors who want regulated access to BTC, but are apprehensive about introducing themselves to crypto-native infrastructure.
With backers like the Winklevoss twins (among others) and a business model entirely based on Bitcoin reserves, Treasury hopes to find a leadership position in the burgeoning Bitcoin treasury market in Europe.
Also Read: Crypto Service Provider Amdax to Launch AMBTS Bitcoin Treasury Firm and Plans to Own 210,000 BTC
Rising Competition in Amsterdam’s Digital Asset Market
The treasury is not the only company focused on the Amsterdam exchange.
Dutch company Amdax has also recently announced that it will be starting its own bitcoin treasury known as AMBTS (Amsterdam Bitcoin Treasury Strategy) and is also preparing to be listed on Euronext Amsterdam.
Separately, investment product provider 21Shares has launched a physically backed Hedera ETP, trading under the ticker HDRA on Euronext Amsterdam and Euronext Paris, that allows investors to hold Hedera in their traditional brokerage accounts.
These examples highlight Amsterdam’s momentum as a geo-cluster of digital asset listings, with Treasury’s upcoming inaugural listing representing another landmark addition to Europe’s evolving cryptocurrency and financial landscape.
International Trend of Public Bitcoin Treasuries
Bitcoin treasuries are growing and not just in Europe. On July 24, London-based gold miner Nativo Resources announced plans to adopt a Bitcoin treasury to complement its gold reserves, UnoCrypto reported.
The company has partnered with Copper.co and Nemean Services for custody and risk management, but made sure to affirm that gold is still its principal business in Peru.
Also today, on September 3rd, Nasdaq-traded CIMG announced it had converted proceeds from a $55 million equity raise into 500 BTC, establishing Bitcoin as a strategic cornerstone in its long-term balance sheet strategy.