CoinShares, Europe’s largest digital asset investment firm, said first-half adjusted Ebitda climbed 630%.
- 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 for the end of June stood at £2.2 billion ($3 billion), a 33% decline from the $4.5 billion dollar figure for year-end 2020 reported at the end of March.
- CoinShares began trading on the Nasdaq First North Growth Market in March following a public offering that raised $17.8 million.
Source: Coindesk
