Coinshares (CNSRF) reported a net profit for Q4 2024 of £31.9 million. Total assets under management were £5.495 at the end of the quarter. Net profit for the full year ending in December was £104,374,023.
Coinshares said that Q4 2024 marks one of its strongest quarters ever and has contributed to 2024 being the second strongest year in the Group’s history after 2021.
Coinshares is a digital asset firm that offers ETFs such as its Bitcoin spot fund (BRRR), hedge fund solutions, and other crypto products. US investors may trade the ETFs on common brokerage accounts.
In a management letter, Coinshares CEO Jean-Marie Mognetti described Q4 2024 as the most transformative quarter in the history of digital assets.
This was also one of CoinShares’ strongest quarters since its inception, with our company’s performance reflecting this extraordinary momentum. Our EBITDA reached £33.6 million for Q4 (2024 £109.8 million), representing an increase of 37% compared to Q4 2023 and a year-on-year increase versus 2023 of 116%.
Mognetti said the US presidential election had ushered in a series of beneficial events, including the end of Operation Choke Point 2.0, where the Federal government pressured banks not to provide services to crypto firms and other items like David Sacks emerging as the new Crypto Czar within the Trump administration, new SEC leadership, a crypto task force and more.
He believes that the US will emerge as a top global hub for crypto and AI, and these sentiments have driven digital assets higher.
Magnotti added that “the paradigm shift we’re witnessing with regard to digital assets presents an unprecedented opportunity, one that rarely occurs in business. As CEO, I recognise my responsibility to seize this moment for our shareholders. The rapid transformation of our industry, coupled with our careful preparation over the years, positions us uniquely to capitalise on this historic moment.”
Coinshares will post Q1 2025 earnings on May 13, 2025. The company did not provide guidance.
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