CoinShares Reports £48.3 Million Revenue in Q4 2024
CoinShares International Ltd reported strong financial results for Q4 2024, driven by a booming crypto market and expansion efforts. Key highlights include:
- Revenue reached £48.3 million ($60.8 million), up from £31.6 million in Q4 2023
- Adjusted EBITDA increased to £33.6 million, a 37% rise year-over-year
- Total income for the quarter was £46.7 million, nearly tripling from Q4 2023
- 2024 revenue totaled £126.8 million, compared to £76.3 million in 2023
- Adjusted EBITDA doubled to £109.8 million
- Total Assets under Management rose by 54% to £2.3 billion
- Physical Bitcoin ETP became the largest in Europe, contributing to total assets of $3.74 billion, a 30% increase
- The CoinShares-Valkyrie division recorded $19 million in net inflows and £25.3 million in Q4 revenue
- Lending services remained stable; staking yields ranged from 3% to 3.5%
- Bitcoin treasury gains amounted to £21.2 million in Q4, totaling £57.4 million for the year
Looking ahead, CoinShares aims to increase its presence in the US ETF market, having filed applications for XRP and other altcoin ETFs with the SEC. The firm proposed an annual dividend of £20 million for shareholders, to be paid in four installments over 2025, contingent on financial health.