The CEO, Mognetti highlighted an increased institutional adoption of crypto.
The latest
financial report from CoinShares International Limited, a major European
alternative asset manager specializing in digital assets, highlighted the
company's impressive performance in the second quarter of 2023. According to
the report published today (Tuesday), the company's revenue in Q2 2023 rose £5
million to £20.3 million when compared to the same quarter in 2022.
CoinShares' Financial and
Operational Highlights of Q2 2023
The
financial results of the quarter ending on 30 June 2023 show growth of 33% in
quarter-on-quarter (QoQ) performance and an adjusted EBITDA of £12.8 million.
This marks CoinShares' best quarter in over a year. The comprehensive income
for the quarter amounted to £5.3 million, which is a significant improvement from the
loss of £0.6 million recorded during the same period last year.
The Passive
Asset Management division was productive during this quarter, generating
£10.6 million in management fees. They amplified their outreach efforts in
Germany and Switzerland through targeted events, educating potential investors
about cryptocurrencies and Exchange-Traded Products (ETPs).
In terms of
operations, CoinShares has seen considerable progress in its asset management
business line. The newly established team is currently preparing its first
strategy, gathering essential data for a launch planned for the year's end.
"Convergence
between traditional and digital finance is well underway. The Group's Q2
performance evidences our ability to take advantage of this convergence," Jean-Marie
Mognetti, the Chief Executive Officer of CoinShares, commented.
In addition,
the Capital Markets division reported gains and other income of £10 million
in Q2. Despite the fluctuation in BTC and ETH prices, its proprietary trading
strategies effectively balanced the decline in liquidity provisioning income.
"The Impending
Institutionalization of the Crypto Landscape"
As the CEO
of CoinShares suggested, such a significant improvement in results over the
year suggests that the cryptocurrency industry is becoming increasingly
institutionalized. Besides the retail traders who used to dominate, there are
more and more professional investors taking part to whom CoinShares can direct its
offer. CoinShares is primarily an ETPs issuer, allowing institutional investors
to join the cryptocurrency market as part of regulated financial instruments.
"Recent
events in the digital asset industry serve as validation of CoinShares' initial
thesis about the impending institutionalization of the crypto landscape and the
importance of regulation," Mognetti added.
Over the
past year, CoinShares made two significant investments. First, in March 2022,
it increased its investment in FlowBank by acquiring an additional 20.8% of
shares, increasing the total stake to 29.3%. Then, in July, it took over
Napoleon Asset Management after previous approval from the French regulator
AMF.
CoinShares
is the second-largest provider of cryptocurrency-based instruments after
Grayscale Investment, with one of the industry's highest assets under
management ratios, which stands at $1.8 billion.
The latest
financial report from CoinShares International Limited, a major European
alternative asset manager specializing in digital assets, highlighted the
company's impressive performance in the second quarter of 2023. According to
the report published today (Tuesday), the company's revenue in Q2 2023 rose £5
million to £20.3 million when compared to the same quarter in 2022.
CoinShares' Financial and
Operational Highlights of Q2 2023
The
financial results of the quarter ending on 30 June 2023 show growth of 33% in
quarter-on-quarter (QoQ) performance and an adjusted EBITDA of £12.8 million.
This marks CoinShares' best quarter in over a year. The comprehensive income
for the quarter amounted to £5.3 million, which is a significant improvement from the
loss of £0.6 million recorded during the same period last year.
The Passive
Asset Management division was productive during this quarter, generating
£10.6 million in management fees. They amplified their outreach efforts in
Germany and Switzerland through targeted events, educating potential investors
about cryptocurrencies and Exchange-Traded Products (ETPs).
In terms of
operations, CoinShares has seen considerable progress in its asset management
business line. The newly established team is currently preparing its first
strategy, gathering essential data for a launch planned for the year's end.
"Convergence
between traditional and digital finance is well underway. The Group's Q2
performance evidences our ability to take advantage of this convergence," Jean-Marie
Mognetti, the Chief Executive Officer of CoinShares, commented.
In addition,
the Capital Markets division reported gains and other income of £10 million
in Q2. Despite the fluctuation in BTC and ETH prices, its proprietary trading
strategies effectively balanced the decline in liquidity provisioning income.
"The Impending
Institutionalization of the Crypto Landscape"
As the CEO
of CoinShares suggested, such a significant improvement in results over the
year suggests that the cryptocurrency industry is becoming increasingly
institutionalized. Besides the retail traders who used to dominate, there are
more and more professional investors taking part to whom CoinShares can direct its
offer. CoinShares is primarily an ETPs issuer, allowing institutional investors
to join the cryptocurrency market as part of regulated financial instruments.
"Recent
events in the digital asset industry serve as validation of CoinShares' initial
thesis about the impending institutionalization of the crypto landscape and the
importance of regulation," Mognetti added.
Over the
past year, CoinShares made two significant investments. First, in March 2022,
it increased its investment in FlowBank by acquiring an additional 20.8% of
shares, increasing the total stake to 29.3%. Then, in July, it took over
Napoleon Asset Management after previous approval from the French regulator
AMF.
CoinShares
is the second-largest provider of cryptocurrency-based instruments after
Grayscale Investment, with one of the industry's highest assets under
management ratios, which stands at $1.8 billion.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Robinhood Bets Big on Crypto in Europe: Launches Staking
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa