CoinShares International, a European digital asset manager, is set to acquire Bastion Asset Management, a London-based, crypto-focused alternative investment manager. The acquisition, announced on October 1, 2025, aims to bolster CoinShares' actively managed capabilities and position the firm as a comprehensive digital asset management platform. The deal is subject to regulatory approval from the UK Financial Conduct Authority (FCA).
The acquisition is a strategic move by CoinShares to expand beyond passive exchange-traded products (ETPs) and cater to institutional investors seeking actively managed digital asset solutions. CoinShares, with approximately $10 billion in Assets Under Management (AuM), is looking to strengthen its global profile and access the U.S. asset management market.
Bastion Asset Management is recognized for its market-neutral and quantitative strategies tailored for institutional investors. CEO and Co-Founder of Bastion, Philip Scott, stated that the acquisition would enable them to further scale their investor base, accelerate the build-out of their innovative alternative program, and increase investor outreach. Upon completion of the acquisition, Bastion will be integrated into CoinShares, with its strategies, team, and capabilities becoming part of the expanded CoinShares platform. Bastion's leadership, including CEO Philip Scott and CIO Fred Desobry, will join CoinShares. Fred Desobry has over 17 years of experience in systematic investing and quantitative research, and Philip Scott has over 25 years of financial services experience and extensive operational expertise.
Jean-Marie Mognetti, CEO and Co-Founder of CoinShares, described the acquisition as perfectly aligned with the company's vision to provide a comprehensive digital asset management solution to its global investor base. He noted Bastion's expertise in systematic digital asset investing and its institutional-grade approach to quantitative alpha generation. CoinShares believes that Bastion's team has experience developing systematic, alpha-generating strategies.
CoinShares holds registered investment adviser status under the U.S. Investment Company Act of 1940, which permits the company to offer actively managed investment products in the U.S., including actively managed ETFs. CoinShares intends to leverage Bastion's expertise to launch actively managed crypto funds designed for institutions navigating volatile markets. CoinShares will offer both directional products and strategies designed to generate alpha regardless of market conditions.
This acquisition complements CoinShares' U.S. expansion plans. CoinShares is pursuing a $1.2 billion SPAC merger with Vine Hill Capital to list on Nasdaq. The company also secured MiCA authorization in Europe, making it the only asset manager with all three continental licenses and reinforcing its regulatory leadership.
CoinShares projects significant growth in the crypto market, estimating that inflows could reach $18 trillion by 2030. The company is also among the first firms pushing for an XRP exchange-traded fund in the United States.
