A new heavyweight in the crypto world is making its public debut—ReserveOne, a digital asset holding company backed by major players in the blockchain space, announced plans to go public on the Nasdaq through a merger with a special purpose acquisition company (SPAC). The deal is expected to raise over $1 billion, marking one of the largest crypto-related listings to date.

ReserveOne is positioning itself as a next-generation cryptocurrency investment firm. It will hold a diversified portfolio of digital assets including Bitcoin, Ethereum, and Solana, aiming to provide institutional investors with exposure to crypto through a publicly traded vehicle.

The listing will be made possible through a merger with M3-Brigade Acquisition V Corp (MBAV.O), a SPAC already trading on the Nasdaq. Shares of M3-Brigade dipped nearly 4% in pre-market trading following the announcement.

ReserveOne is entering a competitive but growing space. The company’s strategy echoes the high-profile pivot made by MicroStrategy, which saw its stock soar after converting its focus toward Bitcoin holdings. The move is part of a broader trend to “wrap” crypto exposure into publicly traded equities, creating more accessible investment paths for traditional market participants.

The leadership team behind ReserveOne includes several notable names in the tech and finance industries. Jaime Leverton, former CEO of crypto mining firm Hut 8, will take the helm as CEO. Sebastian Bea, with experience at BlackRock and Coinbase Asset Management, will serve as president and head of investment.

Adding further credibility, Tether co-founder Reeve Collins will chair the board, which also includes Wilbur Ross, former U.S. Secretary of Commerce under President Donald Trump.

ReserveOne’s funding round includes substantial backing from major crypto institutions. Blockchain.com and Kraken, two of the industry’s biggest platforms, are set to inject up to $750 million into the transaction through a mix of equity and convertible debt.

SPAC deals, such as this one, have become an increasingly popular path to public markets—particularly for innovative or fast-moving sectors like cryptocurrency—by allowing private firms to bypass the traditional IPO route.

While the crypto sector remains volatile, the scale and leadership of ReserveOne suggest that investor appetite for regulated, publicly traded digital asset exposure remains strong.