Bitcoin
CoinShares expands US push with Bastion acquisition and planned listing
CoinShares to buy Bastion Asset Management, expanding US crypto investment products. Deal boosts CoinShares’ push into active crypto ETFs amid rising institutional demand. Firm targets $1.2B US listing as SEC streamlines approval process for crypto ETFs. European digital asset manager CoinShares is moving deeper into the US market with a new strategic acquisition and plans…
- CoinShares to buy Bastion Asset Management, expanding US crypto investment products.
- Deal boosts CoinShares’ push into active crypto ETFs amid rising institutional demand.
- Firm targets $1.2B US listing as SEC streamlines approval process for crypto ETFs.
European digital asset manager CoinShares is moving deeper into the US market with a new strategic acquisition and plans for a public listing.
The firm announced Wednesday that it will acquire London-based Bastion Asset Management, marking a significant step in its effort to broaden crypto investment products in the United States.
The acquisition, which remains subject to approval from the UK Financial Conduct Authority (FCA), will see Bastion’s trading capabilities, systematic strategies, and team fully integrated into the CoinShares platform.
The financial terms of the deal were not disclosed.
A CoinShares spokesperson described the move as a way to combine Bastion’s expertise with the company’s US registration to develop more sophisticated investment products.
“By combining Bastion’s systematic trading expertise with our 1940 Act registration, we can develop actively managed products for the US market that go beyond simple directional exposure to cryptocurrencies,” the spokesperson said.
Active ETFs gain ground
CoinShares is positioning itself to take advantage of a growing shift in investor appetite toward actively managed exchange-traded funds (ETFs).
Unlike passive ETFs, which track an index or asset, active ETFs rely on managers to select investments and aim to outperform the market.
“Most crypto asset managers in the US focus exclusively on passive products that simply track cryptocurrency prices,” the CoinShares spokesperson said in a Cointelegraph report, noting a growing institutional demand for more complex solutions.
The company holds registered investment adviser status under the US Investment Company Act of 1940, which allows it to offer actively managed investment products, including ETFs.
However, these require advanced quantitative and systematic trading expertise—capabilities CoinShares expects to gain from Bastion.
Bastion’s team brings more than 17 years of experience in systematic, alpha-generating strategies developed at major hedge funds including BlueCrest Capital, Systematica Investments, Rokos Capital, and GAM Systematic.
Their approach, which uses academically supported signals to generate returns independent of market direction, aligns with CoinShares’ aim to provide differentiated strategies.
The timing coincides with a broader rise in active crypto ETFs.
While passive products such as spot Bitcoin and Ether funds have historically dominated the market, the number of active ETFs overtook index-tracking funds in July.
Industry data show active funds more than doubled over the past five years, signaling a structural shift in investor preferences.
Building a US presence
CoinShares’ acquisition comes alongside its plan for a US public listing through a special purpose acquisition company (SPAC), valuing the firm at $1.2 billion pre-money.
A US exchange listing is expected to deepen access to capital markets and increase visibility among American institutional investors.
“The US remains the world’s deepest capital market for digital assets, and we’re building the infrastructure, team, and product suite to become a leading institutional player in that market,” CoinShares said.
The announcement follows recent regulatory developments in the US.
The Securities and Exchange Commission has approved rule changes allowing securities exchanges to adopt generic listing standards for new crypto funds.
The change is expected to streamline the process for ETF approvals, cutting the timeline from as long as 240 days to a maximum of 75 days.
With Bastion’s quantitative trading team onboard and the US listing on the horizon, CoinShares is preparing to position itself as a leading provider of both directional and alpha-generating crypto investment products in the world’s largest capital market.
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Bitcoin surges as US government shutdown ignites the market
Bitcoin has surged to its highest level in over two months, above $119,000. The rally is a direct reaction to the US government shutting down operations. The shutdown is expected to create a “positive liquidity impulse” for markets. The political paralysis in Washington has become the crypto market’s rocket fuel. Bitcoin has surged to its…
- Bitcoin has surged to its highest level in over two months, above $119,000.
- The rally is a direct reaction to the US government shutting down operations.
- The shutdown is expected to create a “positive liquidity impulse” for markets.
The political paralysis in Washington has become the crypto market’s rocket fuel.
Bitcoin has surged to its highest level in over two months, blasting past the $119,000 mark as the US government officially shut down its operations, a dramatic development that traders are betting will ultimately unleash a wave of new liquidity into the financial system.
The leading cryptocurrency has jumped nearly 4 percent in the past 24 hours, with prices briefly touching $119,455 for the first time since mid-August.
The rally was broad-based, with other major tokens like Ether, XRP, and Solana all rising between 4 and 7 percent.
This is the market’s clear and unambiguous verdict on the chaos gripping the US capital.
A bet on a blind Fed, a wager on new money
The logic behind the rally is a bet on the second-order effects of the shutdown. With the government’s lights now off, the release of key economic data—most notably Friday’s all-important nonfarm payrolls report—will likely be delayed.
This data blackout will effectively blind the Federal Reserve, making it far more likely to proceed with its planned interest rate cuts.
“If ADP is a leading signal and the BLS print is delayed, the Fed is likely to deliver a 25 bp cut in October and pair it with guidance that keeps a second cut on the table by December,” said Matt Mena, a Crypto Research Strategist at 21Shares.
This is the “positive liquidity impulse” that has the market so excited: an expansion of liquidity that makes it easier and cheaper to borrow money, a dynamic that encourages economic growth and, crucially, risk-taking in financial markets.
For some, this shutdown surge is more than just a temporary trade; it is a sign of a fundamental shift in the market’s DNA.
“The message is clear: with traditional data releases in flux and macro uncertainty running high, Bitcoin remains one of the few assets that thrives when the old playbook breaks down,” Mena noted.
“Investors should be watching this moment closely – it could mark the next explosive leg higher in crypto markets.”
The volatility trade: ‘options look cheap’
This expectation of an “explosive” move is now being actively priced into the derivatives market.
According to Greg Magadini, the Director of Derivatives at Amberdata, the long dry spell of low volatility may be about to end, and options are currently looking cheap.
“After a long ‘dry spell’ for BTC volatility, the US government shutdown could finally be the catalyst to make BTC move a lot,” Magadini told CoinDesk.
This, coupled with the steep contango in implied volatility term structure, makes options look cheap.
That “steep contango” means the market is expecting future volatility to be significantly higher than it is today, making near-term options a relative bargain.
Magadini highlighted the “long straddle”—a strategy that profits from a big price move in either direction—as a preferred way to play the impending volatility boom.
“These catalysts could either cause BTC to rally (as a dollar hedge) or crash (if risk assets panic),” he said, explaining why a bet on pure volatility, rather than direction, is so appealing at this uncertain juncture. The quiet days, it seems, are over.
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Metaplanet’s Bitcoin holdings reach 30,823 BTC after strategic Q3 acquisition
Metaplanet acquired 5,288 BTC in Q3 2025; total holdings reach 30,823 BTC. Bitcoin Income Generation revenue jumps 115.7% to $16.16M. Long-term target: 210,000 BTC by 2027, backed by major institutional investors. Metaplanet has taken a bold step in expanding its Bitcoin treasury, acquiring an additional 5,288 BTC during the third quarter of 2025. This purchase…
Bitcoin
ARK Invest Highlights Bitcoin’s On-Chain Strength for Q4 Gains Ahead
TLDR
- ARK reports that institutional entities now hold 12.2% of Bitcoin’s total supply.
- Bitcoin’s on-chain signals show strong demand with long-term holders maintaining positions.
- Mid-sized investors have been adding to Bitcoin positions, supporting rally stability.
- Macroeconomic shifts and easing inflation may further boost Bitcoin demand.
Bitcoin’s core fundamentals remain strong as the cryptocurrency enters the final quarter of 2025, according to ARK Invest. The firm notes that on-chain metrics, such as network activity, profitability, and supply distribution, are indicating a positive outlook for Bitcoin’s price performance. As institutional involvement grows and macroeconomic factors evolve, Bitcoin could experience further upward momentum, although some caution remains due to potential market volatility.
On-Chain Metrics Indicate Strong Demand
In ARK Invest’s recent Bitcoin Quarterly report, the firm pointed to positive on-chain signals that suggest Bitcoin’s fundamentals are holding firm. The data reveals that most of the Bitcoin in circulation is in profit, with long-term holders showing little indication of selling.
ARK Invest notes that this behavior has historically coincided with bull market phases. Additionally, the majority of Bitcoin is held by investors with a low propensity to sell, which has contributed to a more stable market.
The report also highlights the increasing role of mid-sized investors in recent months. These investors have been steadily adding to their Bitcoin positions, signaling renewed confidence in the market. Combined with a slowdown in selling from larger holders, this could suggest a more organic market rally, less reliant on speculative trading and more driven by long-term holders and institutional interest.
Institutional Adoption Reaches New Heights
ARK Invest also points to the continued growth of institutional participation in Bitcoin. The firm reports that institutional entities, including digital asset trusts and Bitcoin exchange-traded funds (ETFs), now hold over 12% of Bitcoin’s total supply. This marks a record level of institutional ownership and reflects Bitcoin’s increasing integration into traditional capital markets.
According to ARK, this rising institutional presence is beneficial for the market as it provides more stability and lessens the reliance on retail-driven volatility. Furthermore, regulated investment vehicles like ETFs and trusts continue to absorb new Bitcoin supply, which could result in a tighter available float. As more institutions add Bitcoin to their portfolios, the asset may become a more recognized component of diversified investment strategies, potentially driving further demand.
Macroeconomic Factors Could Support Growth
In addition to on-chain data and institutional involvement, ARK Invest highlights macroeconomic trends that could further benefit Bitcoin. The firm notes that inflation is under control and signs of a weakening labor market are encouraging a shift in Federal Reserve policy. This shift, along with possible government moves towards deregulation and tax reductions, could create a favorable environment for risk assets like Bitcoin.
ARK suggests that these conditions, along with an improving macroeconomic backdrop, could lead to “productivity-led growth.” This environment has historically been supportive of risk assets, including Bitcoin, and could reinforce the positive signals already seen in the market. If these trends continue, Bitcoin’s demand could be further boosted as we approach the end of 2025.
Caution on Market Cycles
While ARK Invest maintains a bullish outlook for Bitcoin, the firm also cautions that timing will play a critical role in the market’s performance. The report notes that historical market cycles suggest there may be periods of increased volatility or consolidation. Although the fundamentals are strong, ARK warns that investors should be prepared for potential market swings as the market digests recent gains.
Despite this, ARK remains optimistic about Bitcoin’s future, given the strong on-chain signals and institutional involvement. As we move into the final months of 2025, the firm believes that these factors could create a solid foundation for continued price appreciation. However, market participants should remain vigilant, as the timing of market cycles could bring both opportunities and challenges.
ARK Invest’s report emphasizes Bitcoin’s continued strength, both in terms of its on-chain metrics and growing institutional adoption. The firm believes these factors, combined with favorable macroeconomic conditions, set the stage for potential gains in the fourth quarter of 2025. However, investors should stay mindful of possible volatility as the market continues to evolve.
Kelvin Munene is a crypto and finance journalist with over 5 years of experience in market analysis and expert commentary. He holds a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University and is known for meticulous research in cryptocurrency, blockchain, and financial markets. His work has been featured in top publications including Coingape, Cryptobasic, MetaNews, Coinedition, and Analytics Insight. Kelvin specializes in uncovering emerging crypto trends and delivering data-driven analyses to help readers make informed decisions. Outside of work, he enjoys chess, traveling, and exploring new adventures.
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