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Bitcoinist 2025-08-29 23:00:06

CoinShares Reports $32.4 Million Net Profit in Q2, What’s Behind The Gains?

European crypto asset manager CoinShares has released its second-quarter results, showing a net profit of $32.4 million. The figure, while slightly down 5.3% from the prior quarter, represents a 1.9% increase year-over-year, supported by growing management fees, improved treasury performance, and strong momentum in physically backed products. The company attributed the results to a surge in digital asset prices and rising institutional inflows. Bitcoin and Ethereum advanced by 29% and 37% during the quarter, pushing CoinShares’ assets under management (AUM) to $3.5 billion, a 26% increase from the previous quarter. This growth came despite continued outflows from its legacy derivatives-based products, highlighting shifting investor preference toward physically backed exchange-traded products (ETPs). Financial Performance and Market Drivers According to the company’s Q2 earnings report , asset management fees generated $30 million, compared with $28.3 million in the same period last year. Capital markets income came in at $11.3 million, slightly below the $14.6 million posted in Q2 2024, while adjusted EBITDA reached $26.3 million. Basic earnings per share stood at $0.49, marginally above the $0.47 a year earlier. CoinShares’ spot crypto ETPs attracted $170 million in net inflows, the second-highest on record, driving much of the growth in AUM. These inflows were boosted by the integration of Valkyrie ETFs into the CoinShares brand after last year’s acquisition. In addition, the firm’s proprietary BLOCK Index rose 53.7%, outperforming leading equity benchmarks , reflecting broader strength across digital asset markets. Within its capital markets division, Ethereum staking contributed $4.3 million, while delta-neutral trading strategies and lending added $2.2 million and $2.6 million, respectively. Liquidity provisioning generated $1.5 million, a slight dip compared with earlier quarters. The company’s treasury also swung back into positive territory, with $7.8 million in unrealized gains, compared with a $3 million loss in Q1 and a $0.4 million loss in the same period last year. Chief Executive Officer Jean-Marie Mognetti noted that the quarter demonstrated resilience across all business units: “We saw a significant recovery in digital asset pricing . While average prices across Q1 and Q2 were relatively similar, we closed H1 2025 with strong AUM and a favorable outlook.” Strategic Expansion and US Listing Plans Looking ahead, CoinShares is positioning itself for further growth , with plans to pursue a US stock exchange listing. The company is currently listed on Nasdaq Stockholm but sees the US as a market offering greater liquidity, higher valuations, and stronger investor appetite for digital asset firms. “The move from Sweden to the US will unlock substantial value for shareholders by entering a market with significant breadth and depth,” Mognetti said, pointing to recent listings by Circle and Bullish, which experienced strong demand and immediate share price gains. The company also highlighted a supportive policy environment in the US, citing recent legislative progress and an administration signaling openness to crypto innovation . Mognetti said clarity on the timing of the listing should be available within this quarter, with the firm aiming to capitalize on current momentum in both digital asset markets and regulatory developments. Featured image created with DALL-E, Chart from TradingView

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