CoinShares’ revenue, gains, and other income reached 43.9 million pounds ($55 million) in the first quarter of 2024, a 216% increase year-over-year.
European asset manager CoinShares hasposted a record performance in the first quarter of 2024, driven by a recovery in markets since the debut of Bitcoin exchange-traded funds (ETFs).
The company reported revenue of 19.5 million pounds ($24.5 million) for the period, a 216% increase compared to the first quarter of 2023. Gains and other income amounted to 24.4 million pounds ($30.6 million).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 34.2 million pounds ($43 million), up from 7 million pounds ($8.8 million) the previous year, marking a fourfold increase.
