CoinShares responds to rise of active ETFs with Bastion acquisition

CoinShares is set to acquire investment manager Bastion Asset Management to launch actively managed crypto ETFs in the US.

European crypto asset manager CoinShares is set to make another strategic acquisition as the company prepares to go public in the United States.

CoinShares announced Wednesday that it will acquire London-based crypto investment manager Bastion Asset Management as part of its strategy to expand crypto investment products in the US.

The deal, pending approval from the UK Financial Conduct Authority, will see CoinShares fully integrate Bastion’s trading capabilities, strategies and team into its platform. The terms of the deal were not disclosed.

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