Crypto Shops Keep Inking Deals, Bear Market or Not

Despite a prolonged crypto downturn—coin prices nearly halved since October—crypto firms are proceeding with deals and U.S. listings, signaling continued institutional interest. CoinShares completed its SPAC merger and began trading on Nasdaq as CSHR (shares closed down 1.3% at $8.61). Franklin Templeton agreed to acquire 250 Digital and will form a dedicated Franklin Crypto unit, folding in 250 Digital’s strategies and team. Abra agreed to merge with blank-check New Providence Acquisition Corp III (NPACU) and is expected to list as ABRX. The deal activity, centered on asset management and TradFi integration, suggests firms are positioning for long-term product distribution and investor demand even as BTC and other coins remain under pressure.