CoinShares, managing roughly $10 billion in assets and sitting atop Europe’s digital asset ETP rankings, is taking its investment strategies onchain. The firm has partnered with Kiln to deploy its first onchain asset management strategies using Kiln’s Railnet protocol, becoming the first regulated European asset manager to launch diversified yield strategies that blend DeFi lending, institutional secured lending, and tokenized real-world asset yields into a single vehicle.
CoinShares is pulling from up to six different yield streams simultaneously, spanning DeFi protocols and tokenized funds, all wrapped in regulatory packaging that institutional investors require before writing checks.
Why Railnet, and what it actually does
Jérôme Castille, Managing Director at CoinShares, pointed to Railnet’s settlement capabilities and regulatory compliance infrastructure as the deciding factors. Railnet, which Kiln introduced on November 18, 2025, functions as an orchestration layer. It manages deposits, redemptions, and compliance reporting programmatically.
The protocol is designed around what Kiln calls “programmable asset management.” Rather than allocating to a single yield source and hoping for the best, it enables simultaneous investment across multiple yield streams. CoinShares’ strategy takes full advantage of this architecture by combining decentralized finance yields with tokenized real-world assets in the same vehicle.
