CoinShares concluded 2024 with a notable revenue surge, reporting £48.3 million ($60.8 million) for Q4, marking a 53% increase from the previous year.
In a February 18 press release, the company also revealed a 37% growth in adjusted EBITDA, reaching £33.6 million.
CEO Jean-Marie Mognetti described the financial performance as “one of CoinShares’ strongest quarters since inception,” acknowledging the significant shifts in the political landscape during this period. He further emphasized that
“Q4 2024 was arguably the most transformative quarter in digital asset history, marked by groundbreaking policy shifts. With our infrastructure in place and market position stronger than ever, we are uniquely poised to seize this pivotal moment in digital assets.”
For the full year, CoinShares reported revenue of £126.8 million, a 66% rise from 2023. The firm’s comprehensive income more than doubled, reaching £107.5 million.
CoinShares’ Asset Management division also had a standout quarter, with total assets on its physical platform increasing 54% to $2.3 billion. Its Physical Bitcoin ETP emerged as the largest in Europe, with assets under management rising 30% to $3.74 billion.
In January, CoinShares’ head of research, James Butterfill, noted that 2024 concluded with a record $44.2 billion in inflows into digital asset products—almost four times the previous $10.5 billion set in 2021.
Meanwhile, Coinbase saw a boost in its stock price, with shares climbing 8.44% to $298.11 on February 13, following its most substantial quarterly revenue in three years. Q4 2024 revenue reached $2.3 billion, a 138% increase from the previous year, surpassing analysts’ expectations of $1.88 billion. Net income surged to $1.3 billion, and earnings per share (EPS) reached $4.68, exceeding forecasts. This growth was driven by a 172% increase in transaction revenue, which reached $1.6 billion, alongside a rise in subscription and services revenue to $641 million, reflecting Coinbase’s ongoing expansion beyond trading fees.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
