CoinShares Q4 Profit More Than Doubled

Assets under management at the now Nasdaq-listed CoinShares grew by over 300% in 2020.

Mar 31, 2021 at 9:10 a.m. UTC
Updated Sep 14, 2021 at 12:33 p.m. UTC

Profits at CoinShares, Europe’s largest digital asset investment firm, more than doubled in the company's Q4, according to interim financial results announced Wednesday.

  • CoinShares announced Q4 adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) of £7.9 million (US$10.9 million), a 147% increase over the year-earlier period figure of £3.2 million ($4.4 million).
  • Results were helped by management fees generated by exchange-traded products (ETPs), which increased 137% to £7.1 million (US$9.8 million) in Q4 compared to the year-ago period figure of £3 million ($4.1 million).
  • The digital asset manager, which began trading on the Nasdaq First North Growth Market on March 11, saw its assets under management (AUM) grow to £1.74 billion in 2020, an increase of 336% compared to £0.4 billion ($0.55 billion) the year before.
  • This has continued in 2021, with CoinShares’ AUM currently more than $4.5 billion.
  • These surges can be attributed to the crypto bull market which gathered pace toward the end of 2020, which CEO Jean Marie Mognetti described as “a tipping point on the journey of bitcoin and digital assets.”
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