Crypto Firm ReserveOne Moves Toward Nasdaq Listing Through $1 Billion SPAC Deal

Highlights:

• ReserveOne has filed a draft Form S-4 with the SEC for a SPAC merger aimed at a Nasdaq debut.
• ReserveOne is moving toward a Nasdaq listing with plans for a crypto treasury anchored in top cryptos.
• Crypto IPO activity has grown this year as firms like Circle and Figure Technology Solutions enter U.S. markets.

ReserveOne has filed a draft registration statement with the U.S. Securities and Exchange Commission as it prepares for a public listing. The company submitted a Form S-4 on September 23 for its planned merger with M3-Brigade Acquisition V Corp. The blank-check firm trades on Nasdaq under the symbols MBAVU, MBAV, and MBAVW.

Big announcement today at ReserveOne!

We’ve confidentially submitted our draft registration statement on Form S-4 with the SEC (U.S. Securities and Exchange Commission) 👏

A quick refresher on us: we’re one of the rare digital asset companies that hold diversified crypto… pic.twitter.com/gAGThNz3Uy

— ReserveOne (@ReserveOne_) September 23, 2025

The filing is required to register securities in connection with mergers or acquisitions. It enables the SEC to review terms before shareholders vote. If approved, ReserveOne will list the combined entity on Nasdaq under the ticker “RONE.”

ReserveOne, which launched in July, estimates the deal could raise over $1 billion in gross proceeds. It plans to use the funds to establish its digital asset reserve. The strategy indicates its interest in becoming one of the leading crypto treasury companies.

The merger with M3-Brigade helps ReserveOne to bypass the traditional initial public offering process. The construction resembles the actions of other digital asset companies that wanted to gain faster access to the mainstream markets. The company expects the merger to close before the end of 2025.

ReserveOne Moves Toward Nasdaq Listing with Diversified Crypto Treasury

ReserveOne has announced plans to build a diversified digital asset treasury. The model draws inspiration from the proposed U.S. Strategic Bitcoin Reserve. The company intends to anchor its holdings in Bitcoin. Meanwhile, it will include Ethereum, Solana, and other cryptocurrencies.

The company will seek yield via institutional staking and lending. According to the leaders, this strategy provides a balance between stability and growth potential. They consider Bitcoin to be the central asset that underpins the ReserveOne larger reserve apparatus.

Jaime Leverton serves as the chief executive officer, and he previously led Hut 8 and worked with Riot Platforms. Sebastian Bea acts as president and head of investment after leading Coinbase Asset Management. They are all together leading the way for ReserveOne into the public markets.

The company positions itself as a gateway to investors seeking crypto exposure in the form of equities instead of tokens. With this structure, ReserveOne will be able to appeal to the traditional investors who seek secure and transparent investments. Leverton stated that the company aims to establish stronger standards for digital asset management. ReserveOne will also use proceeds from the merger to fund its treasury and strengthen its long-term position.

Crypto IPO Activity Gains Momentum in 2025

The proposed listing by ReserveOne is in line with the increased activity in crypto-related public offerings. A number of digital asset firms have achieved significant launches this year. Circle finished its offering in June and has experienced a boost in its valuation. Online trading platform eToro went public in May, expanding its investor reach. Gemini also filed confidentially for a U.S. initial public offering.

Galaxy Digital shifted its listing from Canada to Nasdaq earlier this year. BitGo filed for an IPO, becoming the first dedicated custodian to pursue a U.S. exchange listing. Figure Technology Solutions raised nearly $788 million in its offering. These moves signal strong institutional interest in crypto-related equities.

🚀 BREAKING: Major crypto custody firm BitGo has officially filed for an IPO! This comes as institutional demand for digital asset services continues to surge. With billions in assets under custody, BitGo's public debut could be a massive milestone for crypto infrastructure 💼✨

— blockrise.crypto (@Block_Rise) September 20, 2025