CoinShares International Limited (Nasdaq First North Growth Market: CS) has published its interim financial findings for the six months ended 30 June 2021.
The result was driven mainly by the high prices of Bitcoin and Ethereum in April and May 2021, respectively. This led to higher management fees across the Group’s asset management platform.
CoinShares has been offering digital asset exposure and engaged in digital asset trading since 2013. In the last eight years, the Company has developed into Europe’s most prominent digital asset investment company, has introduced a series of digital asset products and funds, and exposed a worldwide investor base with digital assets.
Accordingly, comprehensive income has more than quintupled, a profit metric that includes the rise in the value of digital assets. In the first half of the year, the adjusted profits before interest, tax, depreciation, and amortization (EBITDA). CoinShares, Europe’s most prominent digital asset investment company, claimed it grew by more than seven.
Major 2021 Interim Coinshares Highlights
- Trading volumes reached on 19 May 2021 across their two ETP platforms.
- Have expanded their stock market presence by acquiring the ETF index company
- CoinShares stated on 7 June 2021 that three of its physically supported ETPs cross-listed on Germany’s Börse Xetra exchange.3
- This followed by an exclusive crypto ETP agreement with Finanzen.net on 21 June 2021.
- 3iQ collaborated to create Bitcoin ETF5 and Ether ETF6 3iQ CoinShares
- CoinShares and the DeFi Alliance have expanded their cooperation by introducing a new European chapter.
- Blockdaemon Partnership, the largest supplier of institutional crypto infrastructure
- Strategic investment in a new investment management firm focusing on ESG in the US
Moreover, the Jersey-based business stated in a declaration that comprehensive earnings, a measure of profit that incorporates changes to the value of its digital assets, rose more than five times to £58.7 million.
“This performance has been primarily driven by bitcoin (BTC, +0.81%) and Ethereum (ETH, +3.12%) 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.”
However, the volatility that resulted in significant decreases in BTC and ETH values seems to have paid off CoinShares’ assets under control (AUM). The AUM of the Company was at £2.2 billion ($3 billion) at the end of June. Thus, down 33 percent from $4.5 billion the previous year.
