CoinShares to acquire Bastion in push for active crypto funds

CoinShares International Limited has announced its acquisition of Bastion Asset Management, a London-based alternative investment manager focusing on digital assets. This transaction, pending approval from the UK Financial Conduct Authority, aims to integrate Bastion’s quantitative strategies within CoinShares’ broader asset management framework. With approximately $10 billion in assets under management, CoinShares seeks to enhance its actively managed offerings and position itself as a comprehensive digital asset investment provider. The acquisition aligns with CoinShares’ strategy to combine established passive products with sophisticated actively managed strategies for institutional investors. Bastion's market-neutral, quantitative alpha approach, developed over the last three years, will support this goal. Following the acquisition, Bastion co-founders Philip Scott and Fred Desobry will join CoinShares. The deal also underpins CoinShares’ growth strategy in the US, allowing for the creation of institutional-grade actively managed funds customized for US investors.

Source 🔗