In a bold move that could reshape how digital assets are held and managed, former Blackstone executive Chinh Chu and Tether co-founder Reeve Collins are seeking to raise $1 billion for a publicly traded cryptocurrency treasury firm. The project aims to diversify from the industry’s common Bitcoin-only approach by building a multitoken reserve that includes Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
A Multitoken Treasury Strategy Amid Rising Institutional Interest
The effort will be led by former Hut 8 Mining CEO Jaime Leverton, with Wilbur Ross, former U.S. Commerce Secretary, and Gabriel Abed, ex-ambassador of Barbados to the UAE and chair of Binance’s board, serving as vice chairs.
The initiative will operate under M3-Brigade Acquisition V, a blank-check company planning to rebrand and list as a new kind of crypto-native treasury firm.
This marks a significant departure from traditional treasury models, where most publicly traded firms focus exclusively on Bitcoin. The likes of MicroStrategy (MSTR) and Metaplanet have adopted BTC-only strategies, while multitoken firms remain rare.
Why This Matters
The move comes as corporate interest in crypto reserves intensifies, with many businesses exploring blockchain exposure in a volatile global economy. By building a diversified crypto treasury, the firm aims to reduce single-token risk while offering broader exposure to leading blockchains.
According to insider sources, Cantor Fitzgerald is among the advisors, though both the fundraising target and token mix may still be adjusted.
While Anthony Pompliano’s ProCap BTC also plans to go public through a SPAC with a Bitcoin-focused model, the proposed M3-Brigade venture would be one of the first to manage a basket of assets—a potential template for future digital asset management firms.
Market Reaction and Future Outlook
Shares of M3-Brigade fell 12% after news of the plan emerged, but have since rebounded 5% in pre-market trading. The market remains cautiously optimistic, awaiting clearer details on the final portfolio structure and investment timeline.
With the global crypto market maturing and regulatory clarity increasing, a multitoken treasury may appeal to institutional investors seeking balanced exposure in the next wave of digital finance evolution.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.