CoinShares Q2 report: total revenue increased by 33% year-on-year to 20.3 million pounds, and quarterly profit was 5.3 million pounds

Odaily Planet Daily News According to the latest announcement, the European encryption ETP provider CoinShares’ total revenue in the second quarter of this year was 20.3 million pounds ($25.9 million), a year-on-year increase of 33%. Among them, management fee income fell by 25% year-on-year to 10.6 million pounds (13.52 million U.S. dollars), and transaction and other capital market business income was 10 million pounds (12.76 million U.S. dollars). CoinShares posted a profit of £5.3 million ($6.76 million) for the quarter, compared with a loss of £0.60 million ($770,000) a year earlier. CoinShares currently manages approximately £2.1 billion ($2.68 billion). In addition to charging ETP management fees, the company is also active in DeFi, staking and lending businesses, earning nearly £9 million ($11.48 million) in revenue from these activities in Q2 2023 £5.7 million ($7.27 million). Meanwhile, revenue from liquidity provisions fell 89% year-on-year to £200,000 ($260,000). The company attributed this to a large outflow of funds from its Bitcoin ETP. (Cointelegraph)