Yahoo Finance

18^th February 2024 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares'' or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a leading global investment company specialising in digital assets, has today published its results for the quarter ending 31^st December 2024.

Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

“Q4 2024 was arguably the most transformative quarter in digital asset history, marked by groundbreaking policy shifts. It was also one of CoinShares’ strongest quarters since inception, with EBITDA reaching £33.6 million (£109.8 million year-to-date), a 37% increase from Q4 2023 and 116% year-on-year growth.

Over the past three years, we have systematically built a strong foundation, establishing leading platforms in both Europe and the United States. With our infrastructure in place and market position stronger than ever, we are uniquely poised to seize this pivotal moment in digital assets.”

Q4 2024 financial highlights

• Q4 revenue, gains and other income of £48.3 million (Q4 2023: £31.6 million)

• Q4 adjusted EBITDA of £33.6 million (Q4 2023: £24.5 million)

• Total comprehensive income for Q4 2024 of £46.7 million (Q4 2023: £15.8 million)
  

Full Year 2024 financial highlights

• 2024 revenue, gains and other income of £126.8 million (2023: £76.3 million)

• 2024 adjusted EBITDA of £109.8 million (2023: £50.9 million)

• Total comprehensive income for 2024 of £107.5 million (2023: £38.4 million)
  

Q4 2024 operational highlights

• CoinShares' Asset Management division achieved its strongest quarter to date, with the Physical platform seeing notable growth in Q4. Our Physical Staked Ethereum ETP led inflows with $75 million, while our Physical XRP ETP attracted $31 million in new investments. The CoinShares Physical platform's total assets increased by 54% to $2.3 billion, with our Physical Bitcoin ETP becoming Europe's largest. Despite outflows in our XBT platform, strong crypto price appreciation drove AuM up by 30% to $3.74 billion. In the U.S., our CoinShares-Valkyrie business line saw positive net flows of $19 million, led by WGMI with $52 million in inflows, amidst a broader U.S. market that saw $16 billion flow into crypto spot, futures, and equity ETPs. The Asset Management division generated £25.3 million in revenue for the quarter and £87.1 million in revenue for the full year 2024.
  
  

• The Capital Markets and Hedge Fund Solutions division demonstrated robust performance across all business lines in Q4. Our trading team capitalized on market volatility, while liquidity provisioning saw materially higher flows than previous quarters. The lending book remained stable with a focus on credit quality, and staking activities generated consistent yields between 3-3.5%. Together with gains from our Bitcoin treasury position, the division delivered £21.2 million in Q4, bringing the full year 2024 revenue to £57.4 million.