CoinShares reports $32.4 million in net profit in Q2, confirms preparations for US IPO

PANews reported on August 29th that, according to The Block, European crypto asset management company CoinShares reported a second-quarter net profit of $32.4 million, as rising cryptocurrency prices drove record inflows into its physically backed ETFs and led to a surge in its assets under management. CoinShares' second-quarter report showed a 5.3% decrease in net profit from the previous quarter, but a 1.9% increase from the previous year. The company's asset management fees were $30 million, up from $28.3 million in the same period last year; capital markets revenue was $11.3 million, slightly down from $14.6 million in the second quarter of 2024. Adjusted EBITDA was $26.3 million, and basic earnings per share were $0.49, compared to $0.47 in the same period last year. Furthermore, its assets under management increased 26% from the previous quarter to $3.5 billion in the second quarter.

The company also confirmed that it is preparing for a U.S. IPO, aiming to capitalize on higher valuations and a favorable regulatory environment to kick-start its next phase of growth. CoinShares’ CEO expects further clarity on the timing of the U.S. listing this quarter.