ReserveOne, a digital asset management company, will go public through a merger with M3-Brigade Acquisition V Corp., the company announced on Tuesday.
The transaction is expected to generate more than $1 billion in gross proceeds that will back up the companies’ crypto reserve strategy through the accumulation of Bitcoin (BTC), Ether (ETH), and Solana (SOL), among other digital assets.
“By moving towards a public listing, we’re reinforcing our commitment to responsible innovation, financial inclusion, and the development of a more resilient, transparent market for digital assets,” Jaime Leverton, CEO of ReserveOne, said in a statement.
Leverton is known in cryptocurrency circles for her work with Hut 8 and Riot Platforms, two Bitcoin mining companies. She served as the CEO of Hut 8 for three years before moving to Riot Platforms, where she holds a position on the board of directors.
M3-Brigade is a partnership between M3 Partners and Brigade Capital Management. Together, they have waded into the Special Purpose Acquisition Companies market, wherein companies are taken public via private mergers.
Two other companies that M3-Brigade has taken public are Greenfire Resources and Infrastructure and Energy Alternatives.
After the merger is complete, ReserveOne will trade under two tickers: RONE and RONEW. M3-Brigade is listed on the Nasdaq and the merger is expected to close in Q4 2025.
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Crypto reserve companies more popular but trouble may await
Crypto reserve companies have become more popular since 2024, driving attention and more credibility to the space. Companies also betting on crypto reserves include Michael Saylor’s Strategy, Metaplanet, Semler Scientific, SOL Strategies and DeFi Development Corp, among several others.
Crypto reserve firms are often viewed as proxies for direct cryptocurrency investment, offering exposure to digital assets without requiring investors to buy or hold the tokens themselves. However, this indirect exposure can make their share prices susceptible to volatility that mirrors the broader crypto market.
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