Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

CoinShares profits more than double in fourth quarter amid crypto bull market

% of readers think this story is Fact. Add your two cents.

CoinShares International Ltd, Europe’s largest digital asset management firm, saw profits surge in its fourth quarter amid a boom in crypto markets towards the end of 2020.

In its results for the quarter ended December 31, the company reported adjusted earnings (EBITDA) of £7.9mln, a 147% increase on the prior year, while management fees generated jumped 137% to £7.1mln and trading gains from its capital markets arm surged 116% to £5.2mln.

READ: Bitcoin trading scam lands Manchester man with half-million-dollar fine

For the year as a whole, the firm reported adjusted EBITDA of £22.4mln, a 100% increase on the prior year, while management fees rose 62% to £18.4mln and trading gains climbed 75% to £16.4mln.

CoinShares also reported that its assets under management (AUM) had ballooned during 2020 to £1.74bn at year-end from £0.4bn in 2019, adding that this had continued to increase into 2021 with AUM as of March 30 at US$4.56bn (£3.31bn).

“2020 was a transformative year for CoinShares. Today, we are proud to mark the closing of what by any financial measure will be the most successful year our group has ever had. The figures speak for themselves”, CoinShares chief executive Jean Marie Mognetti said in a statement.

“[The fourth quarter of 2020] will be remembered as a tipping point in the journey of bitcoin and digital assets towards being recognized as a genuine asset class. This utterly transformative way to create, use and consume financial services has started to attract institutional capital at scale”, the CEO added.

The results mark a strong start to the company’s life as a listed company following its listing on the Nasdaq First North Growth Market on March 11 after garnering share subscriptions totalling nearly £58mln in a heavily oversubscribed offering.

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Load more ...




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.