CoinShares Set to Acquire Bastion Asset Management to Strengthen Actively Managed Digital Asset Capabilities

Rhea-AI Summary

CoinShares (OTCQX: CNSRF), Europe's leading digital asset manager with $10 billion in AuM, has announced the acquisition of Bastion Asset Management, a London-based FCA-regulated crypto investment manager. The strategic acquisition aims to enhance CoinShares' actively managed capabilities and strengthen its position as a comprehensive digital asset management platform.

The deal will integrate Bastion's strategies, team, and capabilities into CoinShares' platform, pending UK Financial Conduct Authority approval. Key Bastion executives joining CoinShares include Fred Desobry (CIO) with 17 years of systematic investing experience, and Philip Scott (CEO) with 25 years in financial services.

This acquisition supports CoinShares' U.S. expansion plans by combining Bastion's alpha generation expertise with CoinShares' registered Investment Advisor status, enabling the development of actively managed funds in the U.S. market.

Positive

• Strategic expansion of actively managed digital asset capabilities
• Addition of experienced leadership team with proven track record
• Enhancement of U.S. market presence through registered Investment Advisor status
• Integration of Bastion's quantitative alpha investment approach
• Potential for new sophisticated, institutional-grade product offerings

Negative

• Acquisition subject to UK Financial Conduct Authority regulatory approval
• Integration risks associated with merging teams and strategies
• No disclosed financial terms of the acquisition

Insights

Financial Strategist

CoinShares' acquisition of Bastion strengthens its active management capabilities and accelerates U.S. expansion in the digital asset space.

CoinShares' acquisition of Bastion Asset Management marks a strategic expansion of their digital asset management capabilities. With $10 billion in assets under management, CoinShares is already establishing itself as a significant player in the European digital assets space. The integration of Bastion's quantitative trading expertise provides CoinShares with sophisticated alpha-generation capabilities that complement their existing passive product lineup.

The acquisition addresses three critical strategic objectives: First, it diversifies CoinShares' product offering beyond ETPs into actively managed strategies, creating a comprehensive platform that serves various investor needs. Second, it brings on board experienced talent—particularly Fred Desobry with 17 years in systematic investing and Philip Scott with 25 years in financial services—enhancing CoinShares' institutional credibility. Third, it accelerates the company's U.S. expansion by combining Bastion's active management expertise with CoinShares' recently acquired Investment Advisor status.

This transaction positions CoinShares to capture greater market share in the rapidly evolving institutional digital asset management space. By offering both passive beta products and sophisticated quantitative strategies, CoinShares is creating differentiation from both traditional asset managers dabbling in crypto and crypto-native infrastructure players. The pending FCA regulatory approval represents the primary contingency before deal completion.

The strategic alignment with Bastion, following a year of collaboration, suggests thorough due diligence and tested operational integration, reducing execution risk. This calculated expansion aims to establish CoinShares as a one-stop digital asset management solution for institutional investors seeking both passive and active exposure to the crypto markets.

A strategic acquisition complementing CoinShares' U.S. expansion plans

SAINT HELIER, Jersey, Oct. 1, 2025 /PRNewswire/ -- CoinShares International Limited ("CoinShares" or "the Group") (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European asset manager specializing in digital assets with ~US$10 billion in AuM, today announced the acquisition of Bastion Asset Management Limited ("Bastion"), a London-based, FCA-regulated crypto-focused alternative investment manager. The acquisition significantly strengthens CoinShares' actively managed capabilities, as the firm continues its evolution into a comprehensive digital asset management platform. Following completion of the acquisition, Bastion will be fully integrated into CoinShares, with its strategies, team, and capabilities becoming part of the expanded CoinShares platform. The acquisition is subject to regulatory approval from the UK Financial Conduct Authority.

Strategic Vision: Building a Digital Asset Management One-Stop Shop

The acquisition of Bastion represents another step towards CoinShares' strategic objective to become a global leading asset manager specializing in digital assets. By combining passive beta products like ETPs with sophisticated actively managed strategies, CoinShares aims to offer investors a complete solution spanning the entire digital asset investment spectrum.

"This acquisition perfectly aligns with our vision to provide our global investor base with comprehensive digital asset management solutions," said Jean-Marie Mognetti, CEO and Co-Founder of CoinShares. "Having worked closely with Bastion over the course of the last year, we have experienced firsthand the performance of their strategies and witnessed their expertise in systematic digital asset investing. Bastion's institutional-grade approach and proven track record in quantitative alpha generation significantly enhances our ability to serve sophisticated investors seeking actively managed digital asset solutions."

"We are delighted to be joining the CoinShares group and to become a new part of its digital asset investment solution," said Philip Scott, CEO and Co-Founder of Bastion. "Over the last three years we have built a strong market neutral strategy and a broad and growing range of investors.  This acquisition will enable us to further scale our investor base, accelerate the build out of our innovative alternative program whilst increasing our investor outreach." 

Enhancing Active Asset Management Capabilities

Bastion brings to CoinShares a market-leading quantitative alpha investment approach applied to digital assets.

As part of the transaction, Fred Desobry (Bastion CIO) with over 17 years of experience in systematic investing and quantitative research, and Philip Scott (Bastion CEO / Co-Founder) with over 25 years of financial services experience and extensive operational expertise, will join CoinShares upon completion and support CoinShares' continued scaling and expansion initiatives, serving a broad range of institutional clients.

Accelerating U.S. Market Expansion

Combining Bastion's alpha generation expertise with CoinShares' registered Investment Advisor (1940 Act) status will enable the development of sophisticated, actively managed funds in the U.S. market. This capability establishes CoinShares as a uniquely positioned provider of institutional-grade, actively managed digital asset products, clearly differentiating it from traditional asset managers and crypto infrastructure players.

About CoinShares

CoinShares is the leading European asset manager specializing in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out below, at 6:30 am CET on 1^st October 2025.

For more information on CoinShares, please visit: https://investor.coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | corporateir@coinshares.com

Media contacts:
CoinShares | Benoît Pellevoizin | bpellevoizin@coinshares.com
M Group Strategic Communications | Peter Padovano | press@coinshares.com

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SOURCE CoinShares Group

FAQ

What is the purpose of CoinShares' acquisition of Bastion Asset Management?

The acquisition aims to strengthen CoinShares' actively managed digital asset capabilities, expand its U.S. presence, and enhance its position as a comprehensive digital asset management platform.

How much assets under management (AuM) does CoinShares (CNSRF) currently manage?

CoinShares currently manages approximately $10 billion in AuM as Europe's leading digital asset manager.

Who are the key executives from Bastion joining CoinShares after the acquisition?

Fred Desobry (Bastion CIO) with 17 years of systematic investing experience and Philip Scott (Bastion CEO) with 25 years of financial services experience will join CoinShares.

What regulatory approvals does the CoinShares-Bastion acquisition require?

The acquisition requires regulatory approval from the UK Financial Conduct Authority (FCA) before completion.

How will this acquisition affect CoinShares' U.S. market strategy?

The acquisition will enable CoinShares to develop sophisticated, actively managed funds in the U.S. market by combining Bastion's alpha generation expertise with CoinShares' registered Investment Advisor status.