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CoinShares Earnings Surge in First Half
Comprehensive income, a profit measure that includes the change in the value of digital assets, climbed more than fivefold.
Updated May 9, 2023, 3:22 a.m. Published Aug 5, 2021, 9:14 a.m.
CoinShares, Europe’s largest digital asset investment firm, said its adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) climbed more than sevenfold in the first half of the year.
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- Comprehensive income, a profit measure that includes the change in the value of its digital assets, climbed more than fivefold to £58.7 million ($82 million), the Jersey-based company said in a statement.
- "This performance has been primarily driven by bitcoin and ethereum prices reaching all-time highs in April and May 2021, respectively," the company said. "This has resulted in increased management fees across the Group's Asset Management Platform."
- The volatility that subsequently brought about dramatic declines in BTC and ETH prices, however, seems to have taken its toll on CoinShares' assets under management (AUM).
- The firm's AUM at the end of June stood at £2.2 billion ($3 billion), a 33% decline from $4.5 billion at the end of last year.
- CoinShares began trading on the Nasdaq First North Growth Market in March following a public offering that raised $17.8 million.
Read more: CoinShares Issues Three Crypto ETNs on Deutsche Boerse
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