CoinShares Reports $7.4 Billion AUM After Nasdaq Listing

Asset Manager Expands Global Presence

CoinShares reported $7.4 billion in assets under management (AUM) in its first annual filing since listing on Nasdaq. The milestone follows its $1.2 billion merger with Vine Hill, marking a significant step in expanding its presence in U.S. capital markets after previously listing in Europe in 2021.

Revenue Growth Across Core Business Segments

The firm posted total revenue of $165.7 million for 2025, with its asset management division contributing $126.4 million, up 13% from $111.7 million the year before. Growth was supported by increased demand for digital asset investment products and stronger performance in staking, lending and trading activities.

Net Income Declines on One-Off Factors

Despite revenue growth, net income fell to $114.3 million from $162.4 million in 2024. The decline was largely attributed to a one-time $36.8 million gain related to FTX claims in the previous year, along with reduced non-operational gains tied to pricing differences in exchange-traded products.

Regulatory Positioning and Cost Efficiency

CoinShares highlighted its dual authorization under MiFID and MiCA frameworks, positioning it to offer regulated crypto investment strategies across Europe. Operating expenses declined 2.9% to $70.7 million, while the firm maintained $481.3 million in available capital, including $176.7 million in liquid assets, supporting future growth initiatives.