CoinShares plans to acquire Bastion Asset Management, aiming to launch an actively managed crypto ETF in the US

ChainCatcher news, according to Cointelegraph, European crypto asset management company CoinShares has announced the acquisition of London-based crypto investment management firm Bastion Asset Management.

This move is part of its strategy to expand in the U.S. market, aiming to leverage Bastion's expertise in quantitative trading to develop and launch actively managed cryptocurrency ETFs in the U.S. Unlike passive ETFs that only track asset prices, actively managed ETFs rely on the investment choices of fund managers in an attempt to outperform the market. CoinShares stated that Bastion's team has over 17 years of experience in developing systematic, alpha-generating strategies.

This acquisition is part of CoinShares' comprehensive plan to enter the U.S. market, as the company had previously planned to go public in the U.S. through a SPAC. The deal is still subject to approval by the UK's Financial Conduct Authority (FCA), and specific terms have not been disclosed.