Crypto investment company CoinShares reported 216% year-over-year revenue growth

What’s new? CoinShares, Europe’s leading digital asset investment company, has released a financial report where it called the first quarter of 2024 the most successful in its history. Thus, the company’s revenue grew 216% year-on-year to reach 43,9 million British pounds ($54,85 million). Revenue in Q1 increased by 1076% year-on-year to 34,1 million British pounds ($42,8 million).

Press release

What else is known? In March 2024, CoinShares successfully completed the acquisition of US asset manager Valkyrie, whose spot bitcoin exchange-traded fund (ETF) Valkyrie Bitcoin Fund under ticker BRRRR received approval from securities regulator SEC to list and trade on the Nasdaq stock exchange in January. This allowed CoinShares to expand its business in the United States.

The company said the capital markets and hedge fund solutions division performed strongly, helped by high market activity and staking and trading profits, which increased following the launch of spot bitcoin ETFs in the US.

Since the start of trading on January 11, inflows into BRRR have reached $477 million, with $510,6 million worth of bitcoins under management. Overall, BRRR ranks sixth in terms of inflows, behind funds from BlackRock (IBIT), Fidelity (FBTC), ARK Invest and 21Shares (ARKB), Bitwise (BITB), and VanEck (HODL).

CoinShares provides a range of financial services in the areas of investment management, trading, and securities to a wide range of clients, including corporations, financial institutions, and individuals, has been involved in cryptocurrencies since 2013. The company is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK, and the US.

CoinShares is regulated in Jersey by the Financial Services Commission (JFSC), in France by the Financial Markets Authority (AMF), and in the US by the Financial Services Industry Regulatory Authority (FINRA). CoinShares is listed on the Nasdaq Stockholm exchange under the ticker CS and on the OTCQX under the ticker CNSRF.

CoinShares is also known for its weekly reports on fund flows in the cryptocurrency derivatives market. It recently recorded the first inflow of funds into such products in five weeks.