CoinShares Announces Q1 2024 Results: Achieving Its Most Successful Quarter in Company History
Q1 2024 Earnings Highlights:
- Revenue, gains, and other income increased by 216% YoY
- Over 4x YoY increase in adjusted EBITDA
- Total comprehensive income increased by over 11x YoY
SAINT HELIER, Jersey,
Jean-Marie Mognetti, Chief Executive Officer of
"Q1 2024 stands out as our strongest quarter ever, marking a period of unprecedented strength and profitability for
At
Q1 2024 financial highlights
- Q1 revenue, gains and other income of £43.9 million (Q1 2023: £13.9 million)
- Q1 adjusted EBITDA of £34.2 million (Q1 2023: £7.0 million)
- Total comprehensive income for Q1 2024 of £34.1 million (Q1 2023: £2.9 million)
Q1 2024 operational highlights
-
Valkyrie: In
March 2024 ,CoinShares successfully completed the acquisition of Valkyrie's ETF business, significantly enhancing its global market presence and operational footprint across theAtlantic . -
Asset Management:
The Asset Management division saw strong inflows, particularly from CoinShares Physical, which notably contributed to the platform's performance, with CoinShares Physical's assets under management becoming a substantial part of the Group's total AUM; additionally,XBT Provider maintained a solid asset base, benefitting from the uplift in the cryptocurrency market. - Capital Markets & Hedge Fund Solutions: The Capital Markets & Hedge Fund Solutions division delivered robust top-line performance, bolstered by vibrant market activity and gains from staking and trading, thriving particularly after the launch of the US Spot Bitcoin ETFs.
-
Dividend: The Board of Directors approved a new dividend policy for the fiscal year 2023, committing to an annual dividend of 20% to 40% of the Group's total comprehensive income, with the initial payment disbursed on
May 3rd and three more scheduled throughout the year.
The performance for Q1 marks the Group's strongest quarter ever. Full details of the Q1 results, inclusive of financial information on each of the Group's business units, are included within the full report, available here.
Download the Swedish Executive Summary here.
ABOUT
For more information on
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com
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PRESS CONTACT
Benoît Pellevoizin
bpellevoizin@coinshares.com
press@coinshares.com
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