CoinShares to acquire investment firm Bastion…"Launch active ETFs in the U.S."

European crypto asset manager CoinShares is acquiring London-based investment firm Bastion Asset Management to target the U.S. market. The deal is seen as a strategic move to launch active exchange-traded funds (ETFs).

On the 1st (local time), Cointelegraph reported that CoinShares plans to acquire Bastion. The acquisition will be completed following approval by the UK Financial Conduct Authority (FCA), and the detailed terms were not disclosed.

CoinShares explained, "By combining Bastion's systematic trading expertise with our registration qualification under the 'Investment Company Act of 1940', we will be able to bring active ETFs to the U.S. market that go beyond simple passive products."

Active ETFs differ from passive ETFs that track a specific index or asset in that managers directly select holdings to pursue excess returns. CoinShares emphasized, "Most crypto asset managers in the U.S. have focused on simple price-tracking passive products, but institutional demand is increasingly shifting toward more sophisticated investment solutions."

CoinShares stated that through the acquisition of Bastion it will secure quantitative investment signals and systematic management capabilities to design ETFs that seek alpha returns regardless of market direction. Bastion is composed of a team with over 17 years of experience at global hedge funds such as BlueCrest Capital, Systematica Investments, Rokos Capital, and GAM Systematic.

CoinShares already holds registered investment adviser status under the 'Investment Company Act of 1940' in the U.S., qualifying it to launch active ETFs. The company said, "We will provide differentiated investment strategies that can generate returns regardless of future market conditions."

The announcement draws attention amid the growth of active ETFs. According to Bloomberg Intelligence, as of July 2025 the number of active ETFs has surpassed passive ETFs and has more than doubled over the past five years.