CoinShares Reports Strong Financial Performance in 2024

According to Odaily, CoinShares, a digital asset investment firm, has released its financial results for the fourth quarter and the entire year of 2024. Key highlights include: In the fourth quarter of 2024, CoinShares reported revenue, earnings, and other income totaling £48.3 million, an increase from £31.6 million in the same period of 2023. The adjusted EBITDA for the quarter was £33.6 million, up from £24.5 million in the previous year. The total comprehensive income amounted to £46.7 million, compared to £15.8 million in the fourth quarter of 2023. For the full year of 2024, the company achieved revenue, earnings, and other income of £126.8 million, a significant rise from £76.3 million in 2023. The adjusted EBITDA reached £109.8 million, compared to £50.9 million the previous year. The total comprehensive income for the year was £107.5 million, up from £38.4 million in 2023. CoinShares' asset management division showed the strongest performance this quarter, with substantial growth in its physical platform. The physical Ethereum ETP led with an inflow of $75 million, while the physical XRP ETP attracted $31 million in new investments. The total assets of CoinShares' physical platform grew by 54%, reaching $2.3 billion, with the physical Bitcoin ETP becoming the largest ETP in Europe. Despite outflows from the XBT platform, the strong rise in cryptocurrency prices drove a 30% increase in assets under management (AUM), reaching $3.74 billion. In the United States, the CoinShares-Valkyrie business line recorded a net inflow of $19 million, with WGMI leading with $52 million in inflows. The U.S. market saw $16 billion flowing into cryptocurrency spot, futures, and stock ETPs. The asset management division's revenue for the quarter was £25.3 million, with a total of £87.1 million for the entire year of 2024.