In the grand theater of European finance, where the crypto winds blow with a whimsical fervor, CoinShares has emerged, not merely as a player, but as a veritable titan, reporting a staggering revenue surge of over 50% in the fourth quarter of 2024, reaching a resplendent $60.8 million. Ah, the sweet scent of success wafts through the air! 🌬️💸
As the curtain fell on 2024, CoinShares basked in the glow of its financial triumph, unveiling a revenue of ÂŁ48.3 million (approximately $60.8 million) for Q4, a dazzling 53% increase from the previous year. In a press release that could make even the most stoic accountant shed a tear of joy, the firm revealed its adjusted EBITDA had soared to ÂŁ33.6 million, a 37% leap that would make even the most seasoned acrobat envious.
Jean-Marie Mognetti, the firm’s chief executive, stood before the audience, proclaiming this quarter as “one of CoinShares’ strongest since inception.” One can almost hear the echoes of applause as he spoke, for the political landscape had shifted dramatically, like a plot twist in a Dostoevsky novel.
“Q4 2024 was arguably the most transformative quarter in digital asset history, marked by groundbreaking policy shifts. […] With our infrastructure in place and market position stronger than ever, we are uniquely poised to seize this pivotal moment in digital assets.”
— Jean-Marie Mognetti
As the final act of the year unfolded, CoinShares reported a full-year revenue of ÂŁ126.8 million, a staggering 66% increase from 2023. The total comprehensive income for 2024 more than doubled to ÂŁ107.5 million, as if the universe itself conspired to reward their audacity.
In a dazzling display of prowess, CoinShares’ Asset Management division achieved its best quarter ever, with total assets on its physical platform swelling by 54% to a magnificent $2.3 billion. And lo! The Physical Bitcoin ETP claimed the title of Europe’s largest, as its assets under management rose by 30% to a staggering $3.74 billion. Who knew Bitcoin could be so popular? It’s like the prom queen of the digital asset world! 👑
Earlier in January, the ever-insightful James Butterfill, head of research at CoinShares, pointed out that 2024 concluded with a record $44.2 billion in inflows into digital asset products. This figure is almost four times higher than the previous record set in 2021, which saw a mere $10.5 billion in inflows. It’s as if the floodgates of fortune have been flung wide open! 🌊💵
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2025-02-18 10:45