CoinShares acquires Bastion Asset Management

CoinShares Strengthens Strategies with Bastion Acquisition

CoinShares, a European-based digital asset manager with approximately $10 billion under management, has reached an agreement to acquire Bastion Asset Management. The transaction is subject to approval by the UK Financial Conduct Authority, and financial details were not disclosed in the press release.

The purpose of the acquisition is to deepen CoinShares' capabilities in actively managed crypto strategies and support its expansion goals in the United States. London-based Bastion focuses on developing systematic investment strategies for digital assets. The company is noted for its market-neutral and quantitative approaches for institutional clients.

With this agreement, the Bastion team, including CEO Philip Scott and CIO Fred Desobry, will join CoinShares. CoinShares is known for its exchange-traded products that provide investors with passive exposure to cryptocurrencies. Bastion's strategies will combine passive products with active management, offering investors the opportunity to build a more comprehensive portfolio.

For example, a pension fund currently using CoinShares' Bitcoin Exchange Traded Funds could direct funds to a market-neutral crypto fund designed to smooth returns in uncertain markets.

This acquisition also strengthens CoinShares' ambitions in the United States. With an existing Investment Adviser license, the company plans to launch actively managed funds for institutional investors. This market, with increasing regulatory clarity, is making such products increasingly viable.

Jean-Marie Mognetti, CEO and Co-Founder of CoinShares, stated, "This acquisition is perfectly aligned with our vision to provide comprehensive digital asset management solutions to our global investor base." He added, "Having worked closely with Bastion over the past year, we have experienced firsthand the performance of their strategies and observed their expertise in systematic digital asset investing."