CoinShares is acquiring Bastion Asset Management to incorporate its systematic trading expertise and develop more sophisticated, actively managed crypto investment products in the US.

CoinShares, which manages around $10 billion in assets, has been expanding its portfolio with actively managed digital asset funds aimed at outperforming market benchmarks.

The company plans to list in the US via a SPAC, with a pre-money valuation of $1.2 billion, to enhance access to capital markets and attract institutional investors.

While the financial terms of the acquisition remain undisclosed, the deal is contingent upon regulatory approval from the UK FCA.

Following the announcement, CoinShares' stock surged 15.52%, closing at $15.48 on the OTC market.

Recent US SEC rule changes, approved to reduce ETF approval timelines from up to 240 days to approximately 75 days, are expected to facilitate faster market entry for crypto funds.

These regulatory adjustments are seen as a significant boost for firms like CoinShares, enabling quicker launches of new crypto ETFs.

Major crypto firms such as Ripple Labs, Coinbase, and Kraken have also expanded through acquisitions to strengthen their global presence.

CoinShares aims to become a globally recognized player, holding a 34% market share in Europe and possessing a Market in Crypto Assets license from France’s AMF.

Bastion’s team brings over 17 years of experience in developing systematic, alpha-generating strategies at leading hedge funds like BlueCrest Capital and Systematica Investments, using academically-backed signals independent of market direction.