TL;DR
- Acquisition: CoinShares will acquire FCA-regulated Bastion, bringing its leadership team on board and expanding into active, quantitative crypto strategies for institutional investors.
- US Expansion: The company is pursuing a $1.2B SPAC merger with Vine Hill to list on Nasdaq, aiming to strengthen its global profile and access the largest asset management market.
- Regulation: The company secured MiCA authorization in Europe, making it the only asset manager with all three continental licenses and reinforcing its regulatory leadership.
European digital asset manager CoinShares has announced plans to acquire Bastion Asset Management, a UK-based firm regulated by the Financial Conduct Authority (FCA). The deal, subject to regulatory approval, is designed to expand the company’s actively managed crypto offerings and accelerate its growth in the US market. Financial terms were not disclosed, but the acquisition is a strategic step to diversify beyond passive exchange-traded products and strengthen institutional appeal.
CoinShares to Absorb Bastion Team to Expand Quant Crypto Strategies
Bastion is recognized for its market-neutral and quantitative strategies tailored to institutional investors. Once the acquisition is approved, its leadership, including CEO Philip Scott and CIO Fred Desobry, will join CoinShares. This integration is expected to enhance systematic digital asset investing capabilities.
CoinShares, long known for its passive crypto exchange-traded products, views the move as a way to evolve into a comprehensive platform that combines passive exposure with active management. The firm also intends to leverage Bastion’s expertise to launch actively managed crypto funds designed for institutions navigating volatile markets.
Strategic Fit for Institutional Growth
CoinShares CEO Jean-Marie Mognetti described the acquisition as “perfectly aligned” with the company’s ambition to build a full-spectrum digital asset investment suite. Bastion’s co-founder Philip Scott emphasized that the deal would help scale its investor base and accelerate the development of alternative strategies.
Together, the firms aim to deliver yield-generating and market-hedging solutions, broadening their reach among institutional clients. The partnership underscores CoinShares’ strategy of blending infrastructure strength with specialized investment approaches to capture a larger share of institutional demand.
CoinShares to List on Nasdaq via $1.2B SPAC Merger with Vine Hill
In parallel with the Bastion acquisition, CoinShares is preparing to go public in the US through a $1.2 billion SPAC merger with Vine Hill Capital Investment Corp. The transaction will create Odysseus Holdings Limited and is expected to close by Q4 2025. Already listed on Nasdaq Stockholm and OTCQX, CoinShares sees the US listing as a gateway to the world’s largest asset management market. With $10 billion in assets under management, the firm will rank among the largest publicly listed crypto asset managers globally.
Expanding Regulatory Footprint in Europe
CoinShares has also strengthened its European presence. In July, its French subsidiary became the first continental European asset manager to secure authorization under the Markets in Crypto-Assets (MiCA) Regulation. This milestone adds to its existing approvals, making CoinShares the only asset management firm in continental Europe holding all three major licenses.
