CoinShares to Acquire UK-Based Bastion Asset Management
CoinShares, a European digital asset manager with $10 billion under management, announced plans to acquire Bastion Asset Management, subject to UK regulatory approval.
The acquisition aims to enhance CoinShares’ capabilities in actively managed crypto strategies and support its expansion into the U.S. market.
Bastion, based in London, specializes in systematic investment strategies for digital assets with a focus on market-neutral and quantitative approaches for institutional clients.
Bastion’s team, including CEO Philip Scott and CIO Fred Desobry, will join CoinShares as part of the deal.
CoinShares is known for exchange-traded products (ETPs) that provide passive exposure to cryptocurrencies. The acquisition allows CoinShares to combine these with active management strategies.
This strategic move could offer investors a more comprehensive suite of products, such as combining bitcoin ETPs with market-neutral crypto funds.
The acquisition supports CoinShares' ambitions in the U.S., where it plans to launch actively managed funds for institutional investors, leveraging its existing Investment Advisor license.
