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CoinShares Reports Strongest Quarter Since 2021 Following Positive Swing in Crypto Markets

Digital assets management firm CoinShares reported $42 million in revenues and gains in the last quarter of 2023 following a positive swing in the market.

Financial Statements Show Growth

The company disclosed the recent financial statements in its Q4 2023 report, showing an increase in year-on-year performance and adoption as institutional investors’ appetite for digital assets surged.

Fees from the Asset Management Division (ETPs and Index Products) were $13 million, up from $8.5 million the previous year. Principal investments earned $12.7 million, a significant increase from $0.5 million the previous year.

Adjusted EBITDA of $71.98 Million for 2023

The Q4 2023 performance is described as the “strongest quarter since 2021.” CoinShares has remained profitable for four consecutive quarters with an Adjusted EBITDA of $71.98 million for 2023.

Total Assets Under Management Reach $3.81 Billion

Total Assets Under Management (AUM) reached $3.81 billion, with £2.44 billion in ETPs and the remainder in the BLOCK index. The 109% gain in AUM in the last 12 months was influenced by price increases for Bitcoin and Ethereum.

CoinShares aims to consolidate its position in Europe and expand in the US through the Valkyrie partnership, following the approval of spot Bitcoin ETFs. Effective distribution and marketing are seen as crucial to raising AUM and capturing market share for the company’s future growth.


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