Q1 Marks CoinShares’ Most Profitable Quarter to Date
CoinShares International Limited, a European investment firm specializing in digital assets, announced its Q1 2024 results, marking its most successful quarter ever.
The company reported a 216% year-over-year (YoY) increase in revenue, gains, and other income, and more than a 4x YoY increase in adjusted EBITDA. Total comprehensive income surged over 11x YoY. CEO Jean-Marie Mognetti highlighted the acquisition of Valkyrie’s ETF business as a key move expanding their operations across the Atlantic.
Strong inflows into CoinShares Physical boosted the Asset Management division’s performance, while the Capital Markets & Hedge Fund Solutions division thrived, especially after launching US Spot Bitcoin ETFs. The Board approved a new dividend policy, committing to an annual dividend of 20% to 40% of the group’s total comprehensive income.
Clever Robot News Desk 15th May 2024