In its fourth-quarter report for 2023, CoinShares highlighted that its total assets under management as of Dec. 31, 2023, was $3.81 billion.
CoinShares, the digital asset investment platform, has reported robust financials in its fourth-quarter report for 2023, revealing annual revenue of $108.5 million. In Q4 2023 alone, the company recorded revenue, gains, and other income amounting to $42.12 million, with adjusted EBITDA at approximately $32.51 million and total comprehensive income reaching $19.36 million for the quarter.
This marks a significant recovery compared to CoinShares' 2022 performance, where in Q4 of that year, EBITDA was negative $30.11 million, and total income was negative $46.94 million. For the entire year of 2023, the company reported revenue, gains, and other income of $108.4 million, with adjusted EBITDA at $71.98 million and total income at $47.95 million.
CoinShares highlighted its total assets under management (AUM) as of December 31, 2023, at $3.81 billion, reflecting a 109% increase since the end of 2022. This growth was attributed to the recovery in digital asset prices during 2023, along with net inflows into CoinShares' physical products, with $3.09 billion held on the balance sheet of the group's exchange-traded products (ETPs) issued by XBT Provider and CoinShares Digital Securities.
In a press release, CoinShares CEO Jean-Marie Mognetti expressed satisfaction with the company's performance, stating that they have refined their strategy and are now navigating the right course. He emphasized the success as a result of the collective efforts of every business unit and corporate function. Mognetti announced a focus on leveraging momentum and expanding globally, positioning CoinShares as a "one-stop shop" for digital asset investments. The CEO concluded by affirming 2023 as their second-best year on record, confirming the strength of their strategies and operational prowess.