CoinShares Q1 net profit falls to $24M
CoinShares reported a net profit of $24 million in Q1 2025, a 42.2% decrease from $41.5 million in Q1 2024. EBITDA fell 15.5%, from $35.5 million to an undisclosed amount. The firm experienced net inflows of $268 million in ETPs, with $202 million from its Physical Bitcoin ETP. Revenue from assets under management rose 20.8%, from $24.5 million to $29.6 million. Year-to-date, CoinShares’s stock declined by 9.4%. CEO Jean-Marie Mognetti noted macroeconomic challenges overshadowed market movements, citing Ether's underperformance that led to $23 million in outflows from its Physical Staked Ethereum ETP. Overall assets under management decreased by 10.7% to $1.52 billion due to broader market corrections, including a 12.1% drop in Bitcoin prices. The quarter saw mixed results across crypto firms, with Coinbase and Kraken reporting revenue declines amid high market volatility following new global tariffs.
