Digital asset investment platform CoinShares disclosed that it generated a cumulative revenue of $108.4 million and total assets under management of $3.81 billion in its quarterly report for 2023.
During the sole quarter of 2023, CoinShares disclosed a total revenue, gains, and other income amounting to $42.12 million. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter were approximately $32.51 million, and total comprehensive income was $19.36 million, according to the company.
In contrast to its financial performance in 2022, CoinShares experienced a substantial resurgence in 2023. During the fourth quarter of 2022, the organization incurred a negative EBITDA of $30.11 million and a total income of $46.94 million.
Its total income from revenues, gains, and other sources in 2023 amounted to $108.4 million. The adjusted EBITDA of the organization for the fiscal year amounted to $71.98 million, with a net income of $47.95 million.
Additionally, the organization emphasized that its aggregate assets under management (AUM) stood at $3.81 billion as of December 31, 2023. The group’s balance sheet includes exchange-traded products (ETPs) issued by XBT Provider and CoinShares Digital Securities Limited, amounting to approximately $3.09 billion.
The company stated that the net inflows into CoinShares physical products aided the digital asset price recovery in 2023, contributing to the 109% increase in its AUM since the end of 2022.
CoinShares CEO Jean-Marie Mognetti stated in a press release to Cointelegraph that the organization is proceeding in the correct direction after strategically refining its approach.
The chief executive officer was also ecstatic to see the figures validate their strategy’s efficacy and see EBITDA persist throughout 2023, particularly in the fourth quarter. Mognetti further stated:
“Yet, it’s not solely about the numbers; it’s the cohesive effort of every business unit and corporate function that has driven this success. 2023 has emerged as our second-best year on record, a confirmation of the solidity of our strategies and operational strength.”
Furthermore, according to the CEO, the organization is positioning itself as a “one-stop-shop” for digital asset investments and leveraging the momentum to expand internationally.