Kategorie: Crypto Markets

• 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.

The post CoinShares expands US push with Bastion acquisition and planned listing appeared first on CoinJournal.

• Poland’s new crypto law imposes strict KNF licensing and heavy penalties.
• Industry warns rules could stifle innovation and push firms abroad.
• The president’s decision may determine Poland’s crypto market future.

Poland has moved closer to enacting one of Europe’s strictest cryptocurrency laws, drawing sharp criticism from industry leaders and sparking a heated political debate.

The legislation, framed as an interpretation of the European Union’s Markets in Crypto-Assets (MiCA) regulation, aims to strengthen oversight and protect investors but has raised concerns that it could stifle innovation and drive businesses abroad.

Stricter rules take centre stage

The Polish lower house, the Sejm, approved the Crypto-Asset Market Act (Bill 1424) on September 26, with 230 votes in favour, 196 against, and no abstentions.

The bill now awaits review by the Senate. If passed, it would position Poland as a jurisdiction with one of the most tightly regulated crypto markets in the EU.

Under the new framework, the Polish Financial Supervision Authority (KNF) will serve as the primary regulator for all crypto-asset service providers, including exchanges, issuers, and custodians, whether domestic or foreign.

Operators will need to secure a KNF license and demonstrate strong capital reserves, robust compliance systems, risk management protocols, and anti-money laundering procedures.

A six-month transition period will allow companies to align with the new rules, but violations could result in fines of up to 10 million zlotys ($2.8 million) or prison sentences of up to two years.

Supporters of the legislation, led by Civic Coalition rapporteur Krystyna Skowrońska, argue that the law is necessary to protect investors, stabilise the rapidly growing digital asset market, and ensure alignment with EU standards.

Proponents say it will bring legitimacy to a sector often criticised for opacity while shielding Poland from systemic financial risks.

Industry voices warn of exodus

Critics, however, warn that Poland’s approach goes far beyond what the EU’s MiCA regulation requires.

Przemysław Kral, CEO of the European crypto exchange Zondacrypto, called the legislation “a major step backwards,” arguing that it treats crypto as a threat rather than an opportunity.

He noted that the new rules could criminalise basic activities such as smart contract development, discouraging talent and investment in the country.

Industry insiders fear that the strict licensing and regulatory requirements, combined with KNF’s notoriously slow approval process, averaging 30 months, will drive startups and smaller operators abroad.

Kral highlighted Zondacrypto’s own experience: despite being founded in Poland, the company is regulated in Estonia, where it pays more than €6 million in VAT annually.

Such relocations could deprive Poland of jobs, tax revenue, and the chance to cultivate a thriving digital economy.

Prominent Bitcoin advocate Dominik Fel echoed these concerns, warning that Poland risks becoming a “museum of innovation” if the legislation takes effect.

Opposition politicians, including Confederation MP Krzysztof Rzońca, have urged President Karol Nawrocki to veto the bill, arguing that it could dismantle the domestic cryptocurrency market.

Apelujemy do Prezydenta @NawrockiKn o weto! Rząd forsuje ustawę, która zniszczy rynek kryptowalut w Polsce!

Konfederacja złożyła ponad 100 poprawek do tej ustawy. Wszystkie zostały odrzucone! @SlawomirMentzen z mównicy sejmowej rozłożył rządową narrację na łopatki! pic.twitter.com/OvIhPsPCYZ

— Krzysztof Rzońca (@KrzysztofRzonca) September 24, 2025

Poland’s political divide shapes the debate

The vote has exposed deep political divisions.

The Civic Coalition, Poland 2050-TD, PSL-TD, the Left, and Together supported the law, while the Law and Justice party (PiS), Confederation, and the Republicans opposed it.

PiS has announced plans to draft a lighter alternative modelled on other EU frameworks, which it intends to present at its congress in late October.

Analysts suggest that President Nawrocki’s decision will be pivotal for Poland’s future in digital assets.

While he does not personally hold cryptocurrencies, libertarian and pro-Bitcoin groups that supported his election are lobbying for a lighter regulatory approach.

The president’s choice could determine whether Poland positions itself as a leader in cautious but investor-friendly oversight or risks stifling innovation and losing its emerging digital economy to friendlier jurisdictions.

The post Poland new crypto law triggers strong criticism from industry participants appeared first on CoinJournal.

• UK seizes 61,000 Bitcoin worth $7B in one of the world’s largest crypto fraud cases.
• Zhang and Ling plead guilty to laundering funds tied to a $5.6B Chinese investment scam.
• Civil battle looms over seized Bitcoin as victims and UK government vie for recovery.

Two individuals accused in one of the largest cryptocurrency fraud cases in UK history have pleaded guilty to charges of laundering criminal funds using Bitcoin.

Yadi Zhang, 47, also known as Zhimin Qian, admitted to possessing and transferring criminal property, while her assistant, Seng Hok Ling, also 47, pleaded guilty to dealing in cryptocurrency.

Their guilty pleas came on the eve of their 12-week trial at a London court.

Both are scheduled to be sentenced on November 10.

The case stems from a 2018 seizure of approximately 61,000 Bitcoin from a West London property, now valued at nearly $7 billion.

The haul is among the largest cryptocurrency recoveries ever made by law enforcement worldwide.

Prosecutors allege that Zhang orchestrated a fraudulent investment scheme that generated much of the illicit funds, while Ling assisted in transferring the proceeds into cryptocurrency accounts.

Background of the fraud and investigation

The criminal case is connected to broader investment fraud originating in China.

In 2017, Chinese authorities began investigating a suspected fraudulent project in Tianjin, which defrauded more than 128,000 people nationwide.

The project, operated under the company Tianjin Lantian, lured investors with promises of high returns, ultimately stealing 40 billion yuan ($5.6 billion).

Fourteen Chinese nationals have been convicted in relation to that scheme.

Within the UK, Zhang and her associates facilitated laundering part of these proceeds through cryptocurrency.

Another woman involved, Jian Wen, who lived with Zhang in Hampstead, was previously convicted of laundering Bitcoin and sentenced to more than six years in prison.

Wen’s involvement highlighted the rapid rise in lifestyle and assets that could result from such schemes; she went from working in a fast-food takeaway to enjoying a six-bedroom house, international travel, and luxury shopping trips.

Zhang’s lawyer, Roger Sahota, noted that her guilty plea “hopes to bring some comfort to investors who have waited since 2017 for compensation,” emphasizing the impact on victims who were defrauded in both China and the UK.

Legal and financial implications

The case underscores growing concerns about the use of cryptocurrencies in organized crime.

Robin Weyell, deputy chief crown prosecutor for the Crown Prosecution Service, stated: “Bitcoin and other cryptocurrencies are increasingly being used by organized criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct.”

With Zhang and Ling’s guilty pleas, the UK criminal proceedings in this high-profile case are drawing to a close.

Attention is now expected to turn to civil proceedings that will determine how the recovered cryptocurrency is distributed between defrauded investors and the UK government.

The outcome will likely influence future enforcement and recovery efforts in cases involving crypto-based financial crime.

The case also highlights the intersection of international crime and digital finance, showing how cross-border cooperation is necessary to tackle large-scale fraud.

Authorities in both China and the UK coordinated efforts to trace, seize, and prosecute the illicit funds, reflecting a growing global focus on curbing cryptocurrency-enabled crime.

The post Chinese woman pleads guilty in $7B UK Bitcoin fraud case ahead of trial appeared first on CoinJournal.

• SEC operations could be hampered, delaying crypto ETF approvals for Solana and Litecoin.
• Limited staff during shutdown may stall key regulatory reviews and deadlines.
• Delays can dampen investor confidence and trigger market volatility in altcoins.

The possibility of a US government shutdown is stirring unease in the cryptocurrency world, particularly around the fate of eagerly awaited Solana (SOL) and Litecoin (LTC) ETFs.

The Securities and Exchange Commission (SEC), which oversees approval of these investment products, could see its operations severely hampered, putting regulatory decisions on hold.

How the shutdown could impact ETF approvals

Approval of new financial products like crypto ETFs largely depends on the SEC’s thorough review process.

But with a shutdown looming, only a small number of SEC employees will remain on the job, focused solely on critical functions.

That means teams reviewing crypto ETF filings will likely be furloughed or forced to work at minimal capacity.

Several fund managers have been chasing timelines, hoping for decisions in early October.

For example, the much-anticipated Litecoin ETF from Canary Capital has a key regulatory deadline on October 2, now looking increasingly uncertain amid the staffing crunch.

While some preparatory reviews might have been completed before the shutdown, the absence of full staff means the process will almost certainly slow.

Whether the SEC will consider crypto ETF reviews essential remains to be seen.

History shows that non-critical activities are typically paused during shutdowns, leaving the fate of these products in regulatory limbo.

Market impact on Solana, Litecoin

Delays in ETF approvals have tangible effects on market dynamics. Solana, currently trading near $206, and Litecoin, steady around $105, count on institutional fund inflows that ETFs help facilitate.

When regulatory uncertainty lingers, investor confidence fractures, and trading becomes more cautious.

The crypto market, already sensitive to regulatory cues, could face volatility in response. Any pause in new investment avenues dampens broader enthusiasm, potentially stagnating recent gains.

That said, a swift resolution to the shutdown and resumed SEC approvals might unleash renewed momentum, reigniting interest in these altcoins.

Industry watchers still see 2025 as a breakthrough year for crypto ETFs beyond bitcoin.

If approvals come through soon after the shutdown, Solana and Litecoin could benefit greatly from increased institutional participation.

For now, market participants are watching nervously as Washington’s political gridlock weighs on the regulatory front, reminding everyone just how intertwined politics and markets have become.

The post What a US government shutdown means for crypto ETF approvals appeared first on CoinJournal.

• Perp DEX tokens lost more than $1.3 billion in market value over the past day.
• ASTER, AVANTIS, and APEX drop up to 35%.
• Analysts anticipate significant rallies in October.

Cryptocurrencies displayed weakness on Tuesday, with most currencies losing momentum after yesterday’s momentary jumps.

The global cryptocurrency market capitalization plunged 1% in the past 24 hours to $3.89 trillion.

Meanwhile, perpetual tokens underperformed the broader market.

CoinGecko data shows Perp coins dropped 6.2% (or $1.35 billion) of their valuation within the last 24 hours to $21.47 billion at press time.

The daily trading volume has jumped to $5.79 billion, signaling robust trading activity, potentially from market players quitting to avoid further losses.

This article explores the trending projects in the perp space, including Aster, Avantis, and APEX. The trio has seen traction in the past few sessions as market interest shifts to the decentralized derivatives sector.

ASTER down 10%

Decentralized exchange Aster has gained attention with its latest performance, which saw it even outshining established projects like Circle in activity.

Its native token soared to all-time highs of above $2.40 on September 24, displaying unmatched momentum in a month often plagued by bearish actions.

Meanwhile, ASTER has plummeted by 10% in the past 24 hours to $1.72.

Profit-taking after the latest rallies and broader market dips fuel ASTER’s downward trend on the daily chart.

Meanwhile, whale accumulations from top investors like Mr Beast signals trust in Aster’s disruptive potential.

AVNT extends weekly losses

Avantis extended its weakness as perpetual tokens crashed.

It is trading at $1.17 after losing 4% and more than 45% in the past seven days.

Avantis has visibly lost the initial momentum that propelled its prices to record highs this month.

While the project positions itself as a rival in derivatives trading, intense competition, liquidity crunches, and whale outflows have dented its momentum.

Though today’s dip appears less severe than the peers, a broader outlook confirms a struggling DEX.

Nonetheless, some experts trust that serious teams focus on building and not short-term price movements.

If that’s the case for Avantis, we might expect substantial recoveries amid possible “Uptober” rallies.

APEX takes a massive hit

APEX suffered the most, shedding over 35% in the past day to hover at $1.37.

The brutal dip comes after the altcoin gained over 350% in the past week to the $2.70 peak.

Meanwhile, today’s performance has left investors uncertain about Apex Protocol’s survival in the perp DEX trading game.

Broder market outlook

Cryptocurrencies underperformed today, in what proponents call the final reset before October rallies.

Bitcoin displays bearish sentiments at $113,500, with top alts ETH, XRP, BNB, and SOL down by up to 5% on their daily price charts.

Analyst Michael van de Poppe believes the current dips are an opportunity to enter lower before fresh all-time highs in the coming month.

As you can see, #Bitcoin broke through a crucial resistance zone and has a ton of upwards potential.

I would assume that we’ll have a slight pullback and start running upwards from there.

It’s buy the dip season and I think we’ll see a new ATH in October. pic.twitter.com/smMiW0Jt2I

— Michaël van de Poppe (@CryptoMichNL) September 30, 2025

With experts predicting that perpetual decentralized exchange will shape the coming bull cycle, crypto enthusiasts will watch perp tokens in the coming weeks and months.

The post Altcoins today: Perpetual tokens shed over $1.3B as ASTER, AVNT, and APEX tumble appeared first on CoinJournal.