Strong Q3 Revenue
Combined revenue gains and other income for Q3 stood at GBP 25.8 million, bringing the year-to-date top line figure to GBP 78.5 million, which is ahead of 2023 in its entirety.
Record Performance in CoinShares Physical
CoinShares Physical ETP posted its strongest quarter on record with management fees inclusive of staking revenue at GBP 4.1 million, compared to GBP 0.6 million for the same period in 2023.
Positive Developments in Asset Management
CoinShares XBT Provider fees increased to GBP 14.9 million from GBP 9.5 million in the same period in 2023. CoinShares Physical saw inflows amounting to $77.3 million for the quarter.
Valkyrie Acquisition Performance
Valkyrie reported fees of GBP 488,000 for the quarter, with total management fees since acquisition in Q1 reaching around GBP 1 million.
Capital Markets Revenue Growth
Other income and gains for the capital markets business in Q3 were GBP 7.7 million, bringing the year-to-date figure to GBP 36.2 million, up from GBP 21.2 million for the same period in 2023.