Digital asset investment firm CoinShares reported record-breaking results in its Q1 earnings on Tuesday, coinciding with its acquisition of Valkyrie’s exchange-traded fund business.
CoinShares achieved a 216% year-over-year increase in Q1 revenue, gains, and other income, which totaled £43.9 million ($55 million), compared to £13.9 million ($17.4 million) during the same period last year.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) — a widely used metric for assessing a company’s financial performance — reached £34.2 million ($42.9 million), more than quadrupling from Q1 2023.
The firm’s total comprehensive income, which includes all earnings and losses beyond typical business activities, surged to £34.1 million in Q1, over 11 times greater than what was reported in Q1 2023.
As of March 31, CoinShares’ total assets under management stood at £4.77 billion ($6 billion).
