Crypto Holding Company ReserveOne to Go Public in $1B SPAC Deal, Signaling New Wave of Institutional Digital Asset Plays

In a very strategic move that seems to be becoming the norm in the growing convergence of crypto assets and traditional finance, ReserveOne, a newly formed cryptocurrency holding company backed by heavyweight industry veterans and former U.S. Commerce Secretary Wilbur Ross, announced Tuesday that it will go public via a SPAC deal expected to raise more than $1 billion.

The company is merging with M3-Brigade Acquisition V Corp, a blank-check firm whose shares slipped nearly 4% in premarket trading following the announcement. ReserveOne aims to provide investors with equity exposure to a diversified portfolio of cryptocurrencies, including Bitcoin, Ethereum, and Solana, through a publicly traded vehicle. The model is reminiscent of MicroStrategy’s Bitcoin pivot, which saw its share price soar after turning its corporate treasury into a long-term crypto bet, a playbook that has since inspired a wave of institutional-grade strategies in the space.

Jaime Leverton, former CEO of crypto mining firm Hut 8, will lead ReserveOne as CEO, with Sebastian Bea, formerly of BlackRock and Coinbase Asset Management, serving as president and head of investment. The company’s board brings further firepower, chaired by Tether co-founder Reeve Collins, and including Wilbur Ross, who served as Secretary of Commerce under the Trump administration.

Backing for the deal is substantial, with Blockchain.com and Kraken among the lead investors, reportedly contributing up to $750 million in a blend of equity and convertible debt. This transaction comes on the heels of Circle’s successful IPO, reinforcing a broader trend of digital asset firms using SPACs and reverse mergers to gain a foothold in U.S. public markets.

The floodgates may be opening wider. Sources say MegaHoot Technologies, known for its blockchain-based fintech subsidiary XMG Fintech and growing digital asset reserves, is in preliminary discussions with SPAC sponsors regarding a potential listing. Meanwhile, Justin Sun’s TRON is also said to be eyeing a SPAC transaction with Nasdaq listed SRM Entertainment, with a twist, it may use TRX, its native token, as part of a digital asset reserve. If successful, it could set a precedent for token-based reserves in public listings.

This wave is likely to swell. With Ethereum and Solana becoming staples in institutional portfolios, it’s only a matter of time before we see similar SPAC-led listings from holding firms focusing on XRP, TRON, or Pecu Novus, all of which have growing developer ecosystems and loyal investor communities.

The pace of developments suggests that 2025 could be the year crypto firms gain legitimacy not just in DeFi circles, but on Wall Street and Main Street as well. As these digital asset giants move toward transparency, institutional compliance, and capital efficiency through public markets, the competitive landscape is rapidly transforming. One thing is certain that by year-end, the makeup of the crypto investment space may look very different and far more mainstream.