European crypto asset manager CoinShares has released its second-quarter results, showing a net profit of $32.4 million. The figure, while slightly down 5.3% from the prior quarter, represents a 1.9% increase year-over-year, supported by growing management fees, improved treasury performance, and strong momentum in physically backed products.
This growth came despite continued outflows from its legacy derivatives-based products, highlighting shifting investor preference toward physically backed exchange-traded products (ETPs).
Basic earnings per share stood at $0.49, marginally above the $0.47 a year earlier. CoinShares’ spot crypto ETPs attracted $170 million in net inflows, the second-highest on record, driving much of the growth in AUM.
Within its capital markets division, Ethereum staking contributed $4.3 million, while delta-neutral trading strategies and lending added $2.2 million and $2.6 million, respectively. Liquidity provisioning generated $1.5 million, a slight dip compared with earlier quarters.
The company’s treasury also swung back into positive territory, with $7.8 million in unrealized gains, compared with a $3 million loss in Q1 and a $0.4 million loss in the same period last year.
“The move from Sweden to the US will unlock substantial value for shareholders by entering a market with significant breadth and depth,” Mognetti said, pointing to recent listings by Circle and Bullish, which experienced strong demand and immediate share price gains.
Mognetti said clarity on the timing of the listing should be available within this quarter, with the firm aiming to capitalize on current momentum in both digital asset markets and regulatory developments.
Featured image created with DALL-E, Chart from TradingView
