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CoinShares Reports Record Revenue Following Acquisition of Valkyrie's ETF Funds

CoinShares saw its revenue surge 216% YoY after acquiring Valkyrie's ETF business

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CoinShares has reported record-breaking quarterly results after announcing its acquisition of Valkyrie's ETF business.

Revenue surged 216% year-over-year from £13.9 million ($17.4 million) to £43.9 million ($55 million).

Adjusted EBITDA soared four times more than last year to £34.2 million ($42.9 million), more than four times while comprehensive income increased over 11x to £34.1 million.

CoinShares’ AUM amounted to £4.77 billion ($6 billion) with £3.82 billion ($4.8 billion) held in exchange-traded products and £0.95 billion ($1.2 billion) attributable to the BLOCK index and newly acquired Valkyrie funds.

The firm announced in January 2024 that it will acquire Valkyrie's approximately $110 million in assets under management including Valkyrie Bitcoin and Ether Strategy ETF, the Valkyrie Bitcoin Miners ETF, and the newly listed Valkyrie Bitcoin Fund. The acquisition was completed on 12 March.

CoinShares to Acquire Valkyrie Funds Following its Bitcoin ETF Approval
CoinShares will acquire Valkyrie’s $110 million AUM including its SEC-approved Bitcoin ETF

"Q1 2024 stands out as our strongest quarter ever, marking a period of unprecedented strength and profitability for CoinShares," Jean-Marie Mognetti, CEO of CoinShares, said in a statement.

"This quarter reflects not only our robust financial performance but also highlights our enhanced strategic growth capabilities, exemplified by the successful acquisition of Valkyrie's ETF business in March 2024. This pivotal move has allowed us to expand our operations across the Atlantic, further solidifying our presence in the global market."