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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.
Authors credited by the source: Ian Allison; AI Boost
Published by Holder based on an external source.
