In a significant move for the cryptocurrency landscape, Reeve Collins and Chinh Chu are orchestrating plans to secure up to $1 billion via a SPAC aimed at establishing a comprehensive crypto fund. As unveiled by a Bloomberg report, the duo has acquired sponsoring stakes in M3-Brigade Acquisition V Corp. The proposed fund is set to invest in a diversified portfolio of cryptocurrencies, including Bitcoin, Ethereum, and Solana, drawing keen interest from investors throughout the market.
Profile of the Key Players
Reeve Collins, a pivotal figure in the rise of Tether, served as its CEO during a formative period from 2013 to 2015. Chinh Chu, renowned for her influential role as a dealmaker at Blackstone until her departure in 2015, brings extensive experience to the initiative. Their shared sponsoring interest in M3-Brigade Acquisition V Corp. positions them strategically to influence the direction of this SPAC.
Excited about $mbav. Great potential on the horizon! Tether’s co-founder is making waves again, and I’m all in for the ride. 🤞
— CryptoExplorer (@cryptoenthusiast) June 25, 2025
Details of the SPAC Arrangement
M3-Brigade Acquisition V Corp is currently traded on a US exchange, and Collins and Chu are collaborating with Cantor Fitzgerald LP to act as advisers. Their strategy revolves around merging the SPAC with a newly established fund, intending to channel public capital directly into crypto assets.
This endeavor aims to capitalize on the growing interest in digital currencies, though the final blueprint may evolve before any agreements are finalized. Current discussions focus on that ambitious $1 billion fundraising goal.
Proposed Asset Allocation and Objectives
The envisioned fund plans to encompass a triad of major assets: Bitcoin, Ethereum, and Solana, seeking to mitigate risk through diversified token selection. This strategy differs markedly from recent initiatives by some hedge fund managers who aim for more concentrated investments, notably in BNB.
Wider Industry Consequences and Future Directions
Interest from institutional players in crypto assets has surged recently, with numerous corporations beginning to incorporate Bitcoin into their assets. This undertaking could encourage more companies to explore digital currencies.
With Cantor Fitzgerald involved, the expectation is a focus on regulatory compliance and transparent financial practices. Stakeholders will be eager for insights related to timelines, fees, and asset valuation methodologies.
Monitoring from regulators remains a critical aspect, as any substantial amendments to the initial plan could trigger additional scrutiny. Notably, Collins and Chu have not yet declared a specific cutoff date for finalizing the deal, hinting the SPAC may pivot towards alternative crypto or blockchain-related ventures should their current strategy shift.
The potential success of this initiative signals an important milestone in integrating cryptocurrencies into traditional investment frameworks. If realized, a $1 billion digital asset treasury could set a new industry standard.
Image courtesy of Unsplash, chart from TradingView
