Netherlands-based Treasury, a bitcoin treasury firm backed by US billionaires Cameron and Tyler Winklevoss, announced plans to list in Amsterdam. The move will happen through a reverse listing with Dutch investment company MKB Nedsense.
The firm has already raised €126 million ($147 million) in private funding. The round was led by Winklevoss Capital and Nakamoto Holdings. Treasury said it aims to attract bitcoin-focused investors in Europe, where opportunities remain limited compared to the US.
Why it matters
Bitcoin treasury companies differ from regular crypto firms. Instead of trading multiple tokens, they hold bitcoin as their primary asset, similar to how traditional companies hold dollars or euros. This model appeals to long-term bitcoin investors.
In 2025, bitcoin surged above $120,000, driven by strong institutional demand and spot ETF inflows. While Europe has launched several crypto ETPs, adoption still lags behind the US market.
By the numbers
Treasury has already accumulated more than 1,000 bitcoin.
The reverse listing reflects a 72% premium to MKBN’s share price of €0.07 as of July 11.
After consolidation, the target share price is set at €2.10.
Context
Dutch crypto firm Amdax also announced plans to launch its own bitcoin treasury business, AMBTS, on Euronext Amsterdam.
The Winklevoss twins, founders of the Gemini crypto exchange, are well-known bitcoin advocates. Their support has helped bring cryptocurrency into the mainstream for institutional investors.
What’s next
MKB Nedsense will call a shareholder meeting to approve the reverse listing. Once completed, the company will be renamed Treasury N.V. and is expected to trade under the ticker TRSR.
