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CoinShares completes acquisition of crypto hedge fund Bastion

CoinShares will operate the combined unit as CoinShares Alternatives, led by Bastion’s former senior management team, including Philip Scott as Head of Alternatives.

Reported · Written up by our desk · Fund Industry

CoinShares has completed its acquisition of digital assets and cryptocurrency hedge fund Bastion Asset Management, marking a step to strengthen its systematic investment capabilities and broaden its institutional offering. The combined business will operate under the name CoinShares Alternatives and will continue under the leadership of Bastion’s former senior management team.

Philip Scott, previously Bastion’s chief executive, will join CoinShares as Head of Alternatives. Fred Desobry, the former chief investment officer at Bastion, becomes Head of Systematic Investment Strategies.

Hedgeweek reports the deal is designed to combine Bastion’s systematic investment expertise and institutional client relationships with CoinShares’ broader investment platform, trading capabilities, and operational infrastructure.

CoinShares said the transaction creates a base to expand its alternatives business across a wider range of investment strategies, clients, and assets under management, citing ongoing institutional demand for digital asset-related investment products. CoinShares co-founder, president and chief executive Jean-Marie Mognetti called it an important milestone in the firm’s investment platform development.

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