Ryan Gentry Files $200M Bitcoin SPAC for Nasdaq Listing as BIXIU

Ryan Gentry, the former head of business at Lightning Labs, has filed for a $200 million special purpose acquisition company (SPAC). That focused on digital assets and blockchain. The new entity, Bitcoin Infrastructure Acquisition Corp., will trade on Nasdaq under the ticker BIXIU, according to recent filings. The Cayman Islands-based company plans to offer 20 million shares at $10 each. Its strategy is to merge with an existing business, paving the way for that firm to go public. While no acquisition target has been confirmed, the SPAC is expected to focus on digital assets, Web3 technologies, and financial infrastructure.

Targeting Core Blockchain Infrastructure

The filing notes that Bitcoin Infrastructure will prioritize companies building essential tools for the crypto sector. These include wallets, custody solutions, exchanges, and lending protocols. Other targets could involve tokenized financial instruments. With real-world blockchain applications such as payments, DeFi, and cross-border transactions. Wall Street has already shown a strong appetite for similar ventures. Circle Internet Group and exchange Bullish both went public this year, while other crypto-focused SPACs have raised billions. Bitcoin Infrastructure aims to capture a share of this momentum by providing growth opportunities for private firms.

Leadership and Key Backers

Ryan Gentry brings years of experience in Bitcoin’s Lightning Network, where he helped expand second-layer payment technology. Before Lightning Labs, he worked as a lead analyst at Multicoin Capital, a venture firm known for backing projects across the crypto landscape. Supporting him are several prominent names. James “Jim” DeAngelis, formerly a finance leader at risk adviser Kroll, will serve as chief financial officer. 

Vikas Mittal, chief investment officer at Meteora Capital, joins as a director. Meteora is also the sponsor of this SPAC and previously backed Bitcoin Depot’s public debut in 2023. The board is equally stacked with industry veterans. Parker White, former Kraken engineering director, will chair the company. Other members include Giga Energy co-founder Matt Lohstroh and Tyler Evans, co-founder of Bitcoin Magazine’s publisher BTC Inc. and investment firm UTXO Management.

A Growing Market for Crypto SPACs

The launch of BIXIU comes during a surge in crypto-related public listings. In just two days this week, two other SPACs raised a combined $575 million, underscoring investor demand. By assembling a leadership team with deep ties to crypto, Bitcoin Infrastructure hopes to identify strong candidates for public markets. The initiative highlights how blockchain adoption is moving further into mainstream finance.