CoinShares Reports $108M Revenue in 2023

CoinShares platform reported a strong financial performance in Q4 of 2023 with an annual revenue of $108.5 million.

In its report for the fourth quarter of 2023, the digital asset investment platform known as CoinShares reported an annual revenue of $108.5 million.

There was a total of $42.12 million in sales, profits, and other income that CoinShares reported during the fourth quarter of 2023 alone. Additionally, the firm reported that its total comprehensive income for the quarter was $19.36 million and its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were about $32.51 million.

Over the course of 2023, CoinShares experienced a substantial improvement in comparison to the earnings it had generated in 2022. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fourth quarter of 2022 were minus $30.11 million, while its total income was negative $46.94 million.

For the year 2023, the total amount of revenue, gains and other income for the company was $108.4 million. The company reported a total income of $47.95 million for the year, while adjusted EBITDA amounted to $71.98 million.

The firm was also informed that the company’s total assets under management (AUM) as of December 31, 2023 amounted to $3.81 billion. XBT Provider and CoinShares Digital Securities issued exchange-traded products (ETPs) that currently hold about $3.09 billion on the group’s balance sheet.

According to the company, the rebound in the price of digital assets in 2023 drove a 109% increase in the company’s assets under management (AUM) since the end of 2022, which was also supported by net inflows into CoinShares physical goods.

In a news release, Jean-Marie Mognetti, the Chief Executive Officer of CoinShares, expressed satisfaction with the company’s refined approach and its current success.

“Yet, it’s not solely about the numbers; it’s the cohesive effort of every business unit and corporate function that has driven this success. 2023 has emerged as our second-best year on record, a confirmation of the solidity of our strategies and operational strength.”

In addition, the chief executive officer expressed his joy at the fact that the data validated the efficiency of the company’s approach and proved that its EBITDA would continue to be stable throughout the year 2023, particularly in the fourth quarter.

Additionally, Mognetti stated that the CEO of the company is currently concentrating on capitalizing on momentum and growing its operations on a global scale. Additionally, the company is marketing itself as a “one-stop shop” for digital asset investments.