ReserveOne, a newly established digital asset holding company, is set to go public on the Nasdaq through a $1 billion merger with special purpose acquisition company M3-Brigade Acquisition V. The deal, announced Tuesday, marks one of the largest crypto-related SPAC transactions of the year and reflects rising institutional interest in holding crypto assets on balance sheets.
The firm plans to build a treasury comprising Bitcoin, Ethereum, Solana, and other major cryptocurrencies, which it will use in yield-generating activities like staking and lending. ReserveOne is positioning itself as a digital reserve powerhouse modeled after high-profile crypto treasury strategies like that of Donald Trump’s family-linked ventures.
The merger will give ReserveOne access to nearly $1 billion in capital—$298 million in trust funds and $750 million from strategic backers. The transaction is expected to close in Q4 2025, paving the way for the firm’s public listing under the ticker “RONE.”
ReserveOne Aligns With Major Crypto Players
Although ReserveOne stops short of labeling itself a crypto treasury, its operational blueprint closely mirrors that model. The firm plans to partner with leading crypto infrastructure companies to manage, secure, and activate its holdings. Among its strategic collaborators are Galaxy Digital, Kraken, and FalconX—names well known for their roles in institutional crypto finance.
Also participating in the transaction are Blockchain.com and venture capital powerhouse Pantera Capital, according to a joint statement from both companies. These partnerships are expected to support ReserveOne’s asset acquisition, trading strategies, and custody arrangements.
At the helm of the new venture is Jaime Leverton, former CEO of Bitcoin mining firm Hut 8, one of the first public companies to adopt Bitcoin as a balance sheet asset. Leverton’s leadership signals a focus on disciplined treasury management while tapping into crypto-native yield opportunities.
High-Profile Board Members Signal Institutional Push
ReserveOne’s executive and advisory lineup reads like a who’s who of finance and crypto. Reeve Collins, co-founder of Tether and current CEO of M3-Brigade, will serve as executive chairman following the merger. The company’s board will include former U.S. Treasury Secretary Wilbur Ross, Binance board chair Gabriel Abed, and Coinbase Institutional Strategy Head John D’Agostino.
Coinbase, the largest crypto exchange in the U.S., will serve as the custodian for ReserveOne’s digital assets, ensuring institutional-grade security and compliance for its treasury. In addition to staking and lending, the firm also plans to pursue returns through venture investments, targeting early-stage opportunities in digital assets and Web3.
M3-Brigade’s current shares, trading under the ticker “MBAV,” dropped 7% on Tuesday following the announcement, closing at $10.84. However, the stock is still up over 7% year-to-date. Once the deal closes, ReserveOne will begin trading as “RONE” on Nasdaq.
The ReserveOne launch represents another sign that digital assets are cementing their place in the financial strategies of institutional players, and it could add fuel to the already growing crypto treasury movement among publicly traded firms.
Quick Facts
- ReserveOne will go public via a $1B SPAC merger with M3-Brigade Acquisition V.
- It will hold and stake crypto assets like BTC, ETH, and SOL.
- CEO Jaime Leverton previously led Bitcoin miner Hut 8.
- Coinbase will act as custodian; Galaxy, Kraken, and FalconX are partners.
