Skip to main content

Correction: CoinShares Announces Q1 2023 Results

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

An earlier version of this press release was missing the hyper link to our final Q1 Report as posted this morning on the CoinShares website. This corrected version of the press release now contains that link and the Q1 Earnings Report attached.

Q1 2023 has seen a return to profitability in a challenging environment, demonstrating the robust nature of the Group’s underlying business model.

16th May 2023 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Company”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European digital asset manager, has today published its results for the quarter ending 31st March 2023. 

Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

“I’m pleased to announce that Q1 2023 has underscored CoinShares’ robust resilience and adaptability. The financial landscape has been riddled with obstacles this quarter, yet, CoinShares has emerged not just unscathed, but stronger. Looking ahead, I remain optimistic about our industry and CoinShares’ place within it.”

 

Q1 2023 financial highlights

  • Q1 revenue of £9.4 million (Q1 2022: £18.0 million)
  • Q1 Gains and Other income of  £5.9 million (Q1 2022: £11.2 million)
  • Q1 adjusted EBITDA of £8.5 million (Q1 2022: £19.4 million)
  • Total comprehensive income for Q1 2023 of £2.9 million (Q1 2022: £20.7 million)

Q1 2023 operational highlights

  • CoinShares, as Europe’s leading alternative asset manager for digital assets, is enhancing  its portfolio of offerings in 2023 with the establishment of an active asset management business line.
  • CoinShares’ Passive Asset Management division had a steady quarter, generating management fees of £9.2 million. CoinShares introduced fee-free services for our CoinShares Physical Ethereum ETP and launched two new crypto ETP indices: CoinShares Physical Top 10 Crypto Market, which provides exposure to a diverse range of cryptocurrencies for cost-effective diversification, and the CoinShares Physical Smart Contract Platform, which offers exposure to the infrastructure layers of the digital asset market. Amid market fluctuations, our collaboration with Invesco held firm globally, and funds linked to our BLOCK index attracted $20.8 million in new investments.
  • CoinShares’ Capital Markets division reported gains and other income in Q1 of £6.7 million. During the past quarter the Capital Markets department has executed three strategic actions to mitigate risk and enhance due diligence: bolstering our counterparty controls and processes using internal expertise; pioneering professionalisation of the sector to reduce counterparty risks, including establishing proofs of concept with several exchanges and custodians for safer trading; and securing new banking partnerships to ensure smooth US dollar transactions in light of recent regulatory changes in the crypto market. These efforts have been instrumental in delivering performance over Q1.

ENDS

For the full CoinShares Q1 2023 report, click this link.

 

ABOUT COINSHARES

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com 
Company  | +44 (0)1534 513 100 | enquiries@coinshares.com 
Investor Relations  | +44 (0)1534 513 100 | enquiries@coinshares.com 

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out above, at 8:00 am GMT+1 on 16th May 2023.

 

PRESS CONTACT

CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com

H/Advisors Maitland
Freddie Barber / Alasdair Todd
coinshares@h-advisors.global
+44 (0) 207 379 5151

 

 

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.