CoinShares completes Bastion acquisition
Digital asset investment manager CoinShares has completed its acquisition of digital assets and cryptocurrency hedge fund Bastion Asset Management, strengthening its systematic investment capabilities and expanding its offering to institutional investors.
CoinShares has finalized its acquisition of digital assets and cryptocurrency hedge fund Bastion Asset Management, bolstering its systematic investment capabilities and expanding its services to institutional investors. The newly merged entity will be known as CoinShares Alternatives, continuing to be guided by Bastion’s previous senior management.
Philip Scott, Bastion’s former CEO, has been appointed as CoinShares’ Head of Alternatives, while Fred Desobry, the former chief investment officer, will now lead the Systematic Investment Strategies. By merging Bastion’s systematic investment expertise and institutional client connections with CoinShares’ extensive investment platform, trading abilities, and operational framework, the company aims to broaden its alternatives business across a wider array of investment strategies, clientele, and assets under management.
As digital asset-related investment products experience a surge in institutional demand, this acquisition is expected to provide a robust foundation for CoinShares to scale its alternatives business and capitalize on the growing demand for distinct sources of returns within the digital assets sector. Jean-Marie Mognetti, co-founder, president, and CEO of CoinShares, emphasized that this deal marks a significant milestone in the firm’s investment platform.
He highlighted that Bastion contributes an experienced team, a unique systematic investment process, and an established strategy with a strong track record and institutional investor base. By integrating these strengths with CoinShares’ infrastructure, market access, and global distribution, the company believes it has a solid platform to scale its alternatives business and meet the increasing demand from institutional investors seeking differentiated sources of return within digital assets.
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