CoinShares Ends H1 with 465% Income Gain, AUM Zooms to £2.2 Billion

The company benefited heavily from the volatility in the recent cryptocurrency market.

CoinShares International Limited, a cryptocurrency asset management firm, published on Thursday its interim financials for the first half of 2021, ending on June 30. The company reported substantial gains in all key performance metrics.

As per the official figures, the total comprehensive income of the company came in at £58.7 million. In comparison, this figure was at £10.4 million in the first half of 2020 and £18.4 million for the entire fiscal 2020.

The EBITDA of the company increased to £62.8 million from the FY2020’s £22.1 million. Additionally, the margin strengthened significantly, climbing to 85 percent at the end of the six months.

Demand for Crypto Products Are Increasing

Listed on the Nasdaq First North Growth Market, Coinshares is known for offering digital asset products across Europe. Its most prominent products are the several crypto ETPs that are listed on many European stock exchanges and inked several partnerships in the industry over the past few months.

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The company highlighted that its performance of the past two quarters was enhanced by the skyrocketed Bitcoin and Ethereum prices, resulting in increased management fees. Moreover, it benefited from the subsequent volatility in the crypto market.

In addition, the financials outlined that CoinShares had £2.2 billion in assets under management by the end of June. Furthermore, it generated £36.7 million from management fees from its asset management platforms, which is a yearly jump of 447 percent.

Commenting on the result, CoinShares CEO, Jean-Marie Mognetti said: “Following an exceptionally strong Q1 report, we have built on that momentum and reported the strongest Q2 in our Group’s history. This was accomplished despite the market volatility and digital asset price erosion reinforcing our view that CoinShares, Europe’s largest and longest-standing Digital Asset Firm, is much more than a beta play on digital assets.”

“With the new products brought to market, new exchange listings and new alliances formed, coupled with our acquisition of the ETF business from Elwood Technologies, we are well-positioned to keep improving the earnings power of our Company.”

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