- ReserveOne plans to go public via a $1 billion SPAC deal, securing its crypto treasury with Bitcoin holdings.
- Coinbase will hold custody of ReserveOne’s assets, while Galaxy, Kraken, and Pantera back the $750 million funding.
- Led by the former CEO of Hut 8, ReserveOne targets a Nasdaq listing and regulated crypto yield strategies.
Digital asset management company ReserveOne has announced plans to go public via a merger with M3-Brigade Acquisition V Corp. The deal is expected to raise over $1 billion and list ReserveOne on the Nasdaq with the ticker symbols RONE and RONEW.
The newly formed company will maintain a crypto treasury anchored by Bitcoin, and including Ethereum, Solana, and other digital assets, with the potential for yield generation through institutional staking and lending. Coinbase has been selected as the custodian for ReserveOne’s Bitcoin holdings. Additional partners in ReserveOne’s crypto treasury strategy include Galaxy Digital, Kraken, FalconX, and Blockchain.com.
Leaders from Crypto and Finance Join ReserveOne
Jaime Leverton, the former CEO of Hut 8, a public Bitcoin mining company, will lead ReserveOne. She described the listing as a “pivotal moment” for institutional crypto access. Leverton also highlighted the company’s dedication to open markets and financial inclusion. She noted that the company’s disciplined strategy seeks to establish a new benchmark in regulated digital asset investing.
Sebastian Bea, former president of Coinbase Asset Management and a former executive at BlackRock, will serve as president and head of investment. The board will include several high-profile names from traditional finance and the crypto sector. Reeve Collins, co-founder of Tether and CEO of M3-Brigade, will act as Executive Chairman. Other board members include former U.S. Secretary of Commerce Wilbur Ross and Coinbase’s John D’Agostino.
Ross noted that ReserveOne “represents the kind of disciplined innovation our financial markets need” to integrate digital assets responsibly. He pointed out that the participation of traditional finance leaders would assist in compliance with regulations and professionalism in the crypto investment market.
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Major Investors Back ReserveOne’s Crypto Treasury Strategy
The $1 billion funding round involved key players in the crypto and finance industry. The financing package includes an estimated $298 million from M3-Brigade’s trust account and another $750 million in new capital from institutional investors. The participants include Blockchain.com, FalconX, Galaxy Digital, Kraken, Pantera Capital, Hivemind, and ParaFi. These funds are expected to sustain a diversified crypto treasury approach and operations that generate returns at ReserveOne.
ReserveOne’s crypto treasury strategy is based on an emerging trend in which companies hold crypto on their balance sheets, such as Michael Saylor at MicroStrategy. ReserveOne plans to match its reserves with strategic digital asset holdings akin to the U.S. Bitcoin reserve model.
The merger reflects broader efforts to bring crypto into regulated financial markets and demonstrates rising institutional confidence in blockchain assets. M3-Brigade, an SPAC operator, has previously taken firms like Greenfire Resources public. Its partnership with ReserveOne adds to its track record in transitioning innovative companies to public markets.
Moreover, ReserveOne’s shares will start trading when the merger is complete in Q4 2025, after shareholders’ approval and having met government regulations.
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