CoinShares Strengthens Crypto Strategy with Bastion Asset Management Deal

TLDR

• CoinShares acquires Bastion Asset Management to expand actively managed crypto products.

• The deal strengthens CoinShares’ U.S. push with systematic crypto investment strategies.

• The acquisition enables CoinShares to launch market-neutral crypto funds for institutional investors.

• The move aligns with CoinShares’ goal to provide a complete suite of digital asset management solutions.

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CoinShares, a European digital asset manager, has announced the acquisition of London-based Bastion Asset Management. The deal is part of CoinShares’ strategy to expand its presence in the U.S. and to strengthen its offering of actively managed crypto products. This acquisition will enable CoinShares to integrate Bastion’s quantitative trading expertise into its platform, allowing for the development of more sophisticated digital asset investment strategies, especially in the U.S. market.

The acquisition, which is subject to approval from the UK Financial Conduct Authority (FCA), includes Bastion’s team, trading capabilities, and investment strategies. CoinShares aims to leverage Bastion’s expertise in systematic trading to offer actively managed crypto exchange-traded funds (ETFs) and other investment products.

CoinShares Active Crypto ETFs and Market Trends

CoinShares is best known for its passive exchange-traded products (ETPs), which give investors exposure to cryptocurrencies like Bitcoin and Ethereum. However, the growing demand for more complex investment solutions has prompted the company to venture into actively managed crypto ETFs.

Unlike passive ETFs, which track the price of cryptocurrencies, actively managed ETFs rely on a fund manager to select investments with the goal of outperforming the market.

This strategic shift comes at a time when institutional investors are increasingly seeking more sophisticated investment options in the crypto space. A CoinShares spokesperson noted that “most crypto asset managers in the US focus exclusively on passive products,” which track cryptocurrency prices. The acquisition of Bastion will allow CoinShares to offer a broader range of products, including strategies designed to generate returns regardless of market direction.

Bastion’s Expertise and CoinShares’ U.S. Ambitions

Bastion Asset Management is known for its systematic and quantitative approaches to digital asset trading. With over 17 years of experience in developing alpha-generating strategies, Bastion has previously worked with major hedge funds like BlueCrest Capital and Systematica Investments.

CoinShares plans to use Bastion’s expertise to create market-neutral crypto funds and other strategies that can provide more stability and consistent returns, even in volatile markets.

In addition to expanding its product offerings, CoinShares’ acquisition of Bastion is a key step in the company’s strategy to go public in the United States. The company plans to list on a U.S. exchange through a special purpose acquisition company (SPAC), with a valuation of $1.2 billion. This move will provide CoinShares with deeper access to U.S. capital markets and help it build visibility among American institutional investors.

CoinShares and the Growing Demand for Actively Managed Crypto Funds

The rise of active ETFs has shifted the dynamics of the crypto investment market. Historically, passive ETFs, which simply track the price of digital assets, dominated the crypto ETF market.

However, in July 2025, the number of active crypto ETFs surpassed passive funds for the first time, signaling a growing demand for more advanced investment strategies.

As CoinShares prepares to launch its actively managed crypto ETFs, it will be able to compete with other firms offering similar products. These products will not only target traditional institutional investors but also pension funds and other large entities that are seeking safer, more structured ways to invest in the digital asset space.

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