18th February 2024 | SAINT HELIER, Jersey | CoinShares International Limited ("CoinShares' or "the Group") (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a leading global investment company specialising in digital assets, has today published its results for the quarter ending 31st December 2024.
Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:
"Q4 2024 was arguably the most transformative quarter in digital asset history, marked by groundbreaking policy shifts. It was also one of CoinShares' strongest quarters since inception, with EBITDA reaching £33.6 million (£109.8 million year-to-date), a 37% increase from Q4 2023 and 116% year-on-year growth.
Over the past three years, we have systematically built a strong foundation, establishing leading platforms in both Europe and the United States. With our infrastructure in place and market position stronger than ever, we are uniquely poised to seize this pivotal moment in digital assets."
Q4 2024 financial highlights
- Q4 revenue, gains and other income of £48.3 million (Q4 2023: £31.6 million)
- Q4 adjusted EBITDA of £33.6 million (Q4 2023: £24.5 million)
- Total comprehensive income for Q4 2024 of £46.7 million (Q4 2023: £15.8 million)
Full Year 2024 financial highlights
- 2024 revenue, gains and other income of £126.8 million (2023: £76.3 million)
- 2024 adjusted EBITDA of £109.8 million (2023: £50.9 million)
- Total comprehensive income for 2024 of £107.5 million (2023: £38.4 million)
Q4 2024 operational highlights
- CoinShares' Asset Management division achieved its strongest quarter to date, with the Physical platform seeing notable growth in Q4. Our Physical Staked Ethereum ETP led inflows with $75 million, while our Physical XRP ETP attracted $31 million in new investments. The CoinShares Physical platform's total assets increased by 54% to $2.3 billion, with our Physical Bitcoin ETP becoming Europe's largest. Despite outflows in our XBT platform, strong crypto price appreciation drove AuM up by 30% to $3.74 billion. In the U.S., our CoinShares-Valkyrie business line saw positive net flows of $19 million, led by WGMI with $52 million in inflows, amidst a broader U.S. market that saw $16 billion flow into crypto spot, futures, and equity ETPs. The Asset Management division generated £25.3 million in revenue for the quarter and £87.1 million in revenue for the full year 2024.
- The Capital Markets and Hedge Fund Solutions division demonstrated robust performance across all business lines in Q4. Our trading team capitalized on market volatility, while liquidity provisioning saw materially higher flows than previous quarters. The lending book remained stable with a focus on credit quality, and staking activities generated consistent yields between 3-3.5%. Together with gains from our Bitcoin treasury position, the division delivered £21.2 million in Q4, bringing the full year 2024 revenue to £57.4 million.
The performance for Q4 marks one of the Group's strongest quarter ever and has contributed to 2024 being the second strongest year in the Group's history after 2021. Full details of the Q4 results, inclusive of financial information on each of the Group's business units, are included within the full report, available here.
Proposed Dividend
The Board of the Company today announces that, subject to finalisation of the Group audit, it has resolved to declare and pay in four equal instalments an annual dividend in relation to the financial year ending 31 December 2024 amounting to £20,000,000, to be paid from the Group's reserves.
The annual dividend payment will be made in four quarterly instalments via the Euroclear Sweden settlement system, subject to an assessment by the Board of the financial health and cash requirements of the Group prior to each payment being made.
ENDS
Download the Swedish Executive Summary here.
The Annual Report for the Group, inclusive of full audited financials is due to be released on 30th April 2025.
ABOUT COINSHARES
CoinShares is a leading global investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.
For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com
This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out below, at 7:00 am CET on 18th February 2025.
PRESS CONTACT
CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com
M Group Strategic Communications
Peter Padovano
press@coinshares.com
