Coinsilium Group, a publicly listed Web3 investment firm based in the UK, has launched a strategic expansion into Bitcoin treasury management, securing £1.25 million (~$1.6 million) in an oversubscribed share placing. The funds will be used to capitalize Forza (Gibraltar) Limited, a wholly owned subsidiary established to spearhead Coinsilium’s Bitcoin-focused treasury strategy.
This move positions Coinsilium among a growing cohort of publicly traded firms exploring direct cryptocurrency exposure as part of their financial operations.
In parallel with its institutional placing, Coinsilium has opened a £250,000 retail offering through the Winterflood Retail Access Platform (WRAP), aiming to give individual investors access to the same share terms as institutional backers. The new shares will begin trading on the Aquis Growth Market on May 22.
Coinsilium’s treasury pivot arrives amid renewed interest in Bitcoin as a corporate reserve asset. The firm is leveraging Forza as the operational vehicle for direct Bitcoin accumulation and management, a model reminiscent of earlier strategies by U.S. firms like MicroStrategy and Tesla, though at a different scale and market segment.
This wave of corporate Bitcoin treasuries has reemerged alongside broader macroeconomic uncertainty, de-dollarization narratives, and the increasing institutional normalization of crypto. In the wake of the U.S. spot Bitcoin ETF approvals in January 2024, many publicly listed companies have sought exposure to Bitcoin either on their balance sheets or via fund structures.
Coinsilium's strategy aligns with this trend but targets a UK and European market largely underserved in terms of publicly traded crypto-treasury players. The company is also among the few using a Gibraltar-registered vehicle for digital asset accumulation, likely to benefit from the territory's clearer regulatory framework around crypto holdings.
Share Placement and Retail Access Breakdown
The firm issued 41,666,657 new shares at 3 pence per share, raising £1.25 million. An additional £250,000 allocation has been opened to retail investors through WRAP, offering broader market participation under identical terms.
This dual-structure raise mirrors a model increasingly used by small and mid-cap public companies—allowing both institutional and retail investors to align with long-term treasury strategies. According to Coinsilium’s release, the proceeds will go toward both the BTC treasury buildout and general working capital for company operations.
In addition to the primary placement, the company issued 6.56 million shares in lieu of £196,800 in service payments, bringing its total outstanding shares to approximately 274.8 million.
Coinsilium’s appointment of Oak Securities as a joint broker marks a tactical expansion of its capital markets relationships. This suggests an intent to increase visibility with institutional investors and enhance distribution channels for future raises or treasury expansion efforts.
Oak’s role also underscores a growing appetite among UK brokerage and investment platforms to gain exposure to crypto-linked equity offerings. With few crypto-native firms publicly listed on UK exchanges, Coinsilium is attempting to carve out an early leadership position in this niche.
Forza (Gibraltar) and Treasury Execution
The Forza entity, fully owned by Coinsilium, is tasked with managing Bitcoin procurement, custody, and potentially future financial instruments linked to BTC exposure. The vehicle is positioned to operate under Gibraltar’s Financial Services Commission (GFSC) framework, which provides regulatory clarity around virtual asset service provision and institutional crypto custody.
While specifics around Forza’s custody model, procurement timeline, or treasury diversification strategy were not disclosed, the formation of a dedicated subsidiary may give Coinsilium more flexibility in structuring crypto exposure. It also separates operational risk from the parent company’s advisory and venture arms, which remain focused on early-stage Web3 investments.
The Broader Landscape: Bitcoin Treasuries Regain Momentum Coinsilium joins a growing list of firms embracing BTC as a reserve asset in 2025, a trend reignited by both macroeconomic tailwinds and structural changes in crypto infrastructure:
MicroStrategy, led by Michael Saylor, remains the dominant player, recently acquiring 13,390 more BTC, bringing its holdings to 568,840 BTC - valued at over $39 billion.
BTCS Inc. and SOL Strategies have also begun accumulating Ethereum and Solana, respectively, hinting at multi-asset strategies.
Corporate demand for BTC has grown following rising interest rates, inflationary concerns, and geopolitical instability. Bitcoin is increasingly being treated as a macro hedge or digital gold equivalent.
The rise of ETF and ETP products globally has provided both retail and institutional investors with easier access to BTC, while companies with regulatory limitations or balance sheet constraints increasingly explore synthetic or fund-based exposure.
In this context, Coinsilium’s GBP-denominated treasury strategy represents a microcosm of this global reorientation, particularly in markets like the UK and Europe, where publicly traded Bitcoin-treasury firms remain rare.
Retail Participation and WRAP Mechanism
The £250,000 retail component via WRAP signals an effort to make crypto-aligned equity participation more accessible. WRAP allows individual investors to buy into publicly listed securities on equal terms with institutional investors - a feature previously underutilized in crypto-related equity raises.
Coinsilium’s choice to open its treasury raise to retail investors may be a response to growing public interest in Bitcoin and the broader sentiment around BTC as a savings technology. However, it also aligns with post-2023 shifts in regulatory attitudes, where retail inclusion and transparency are increasingly encouraged in crypto-financial offerings.
While Bitcoin treasury strategies may offer upside during bull markets or periods of fiat instability, they also introduce balance sheet risks that conventional treasurers may find difficult to model. These include:
- Volatility: BTC price fluctuations can affect shareholder equity valuations, earnings statements, and market perceptions.
- Custodial risk: Even regulated custody providers carry counterparty and operational risks.
- Regulatory shifts: While Gibraltar is relatively permissive, UK and EU oversight of crypto assets is tightening via frameworks like MiCA, which could impact how assets like BTC are treated on corporate books.
- Liquidity exposure: If BTC holdings grow substantially in value relative to company revenue, they can distort financial ratios and raise governance questions over capital allocation.
Coinsilium’s use of a dedicated treasury subsidiary may help isolate some of these risks, but public firms using BTC must still communicate clearly with shareholders, auditors, and regulators about how they manage exposure.
Treasuries, Tokenization, and Institutional Crossover
As more traditional and Web3-native firms explore BTC treasuries, the market could see greater innovation in treasury tooling—from tokenized reserves to on-chain auditing standards and synthetic treasury tokens backed by BTC. Initiatives like BlackRock’s BUIDL fund or Franklin Templeton’s tokenized assets are expanding the range of financial primitives used in digital treasury management.
Coinsilium, by creating a purpose-built vehicle for BTC, is signaling interest not just in passive holding, but potentially in future financial product development. This could include wrapped Bitcoin for DeFi deployment, BTC-backed bonds, or tokenized BTC instruments for public or private market issuance.
Additionally, with Layer 2 Bitcoin protocols and infrastructure evolving (e.g., Lightning, BitVM, Ark), treasuries holding BTC may gain new utility, turning dormant assets into programmable capital.
Final thoughts
Coinsilium’s capital raise and Bitcoin treasury strategy launch represent a notable entry into the evolving space of public company crypto finance. By establishing Forza and inviting both institutional and retail investors to participate under identical terms, the firm is positioning itself at the intersection of capital markets and decentralized monetary assets.
While the scale of the raise is modest relative to U.S. peers, the symbolic value of a UK-listed company making a direct BTC treasury play could signal broader adoption across small-cap and mid-cap firms seeking to align with digital asset trends.
The next phase of corporate Bitcoin treasuries may not be dominated by tech giants or crypto-native firms alone - but by specialized investment vehicles, boutique public companies, and jurisdictionally agile entities that can navigate emerging global frameworks.
Coinsilium’s move, while early, may offer a test case for how such strategies play out in Europe’s regulatory and capital market environment. The outcome could shape future decisions on how companies balance traditional treasury responsibilities with the evolving logic of decentralized value storage.