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3h ago

CoinShares to Acquire FCA-Regulated Bastion in Push Into Active Crypto Funds

The deal adds market-neutral, quantitative strategies to CoinShares’ platform to support planned U.S. launches of actively managed products pending regulatory approvals.

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CoinShares to acquire Bastion Asset Management to expand crypto investment lineup in US
Coinshares to acquire fca regulated bastion asset management
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Overview

  • CoinShares announced an agreement to buy London-based Bastion Asset Management, with completion contingent on UK Financial Conduct Authority approval.
  • Bastion’s CIO Fred Desobry and CEO Philip Scott will join CoinShares, and the firm plans to fully integrate Bastion’s strategies, team, and capabilities after closing.
  • CoinShares intends to use its U.S. 1940 Act registered adviser status to develop actively managed funds and ETFs informed by Bastion’s systematic, market‑neutral approach.
  • Financial terms of the transaction were not disclosed in the press materials.
  • The move aligns with CoinShares’ planned U.S. Nasdaq listing via a $1.2 billion SPAC with Vine Hill Capital later in 2025 and builds on its ~US$10 billion AUM ETP franchise.