CoinShares has released its Q1 2025 results, indicating a significant decrease in net profit compared to last year.
Overall Performance of CoinShares
According to the latest data, CoinShares reported a net profit of $24 million in Q1 2025, reflecting a 42.2% decrease compared to the same period in 2024, when the profit was $41.5 million. EBITDA for the reporting period was $30 million, which is also a decline of 15.5% year-over-year.
Contribution of ETPs to Quarterly Results
Despite the overall decrease in profit, CoinShares recorded net inflows of $268 million in its ETPs during Q1 2025, with $202 million attributed to its Physical Bitcoin (BITC) ETP. Revenue related to assets under management increased from $24.5 million to $29.6 million, representing a 20.8% rise.
Macroeconomic Factors and Asset Outflows
CEO Jean-Marie Mognetti noted that the company faced macroeconomic headwinds during the quarter that exceeded market movements. "What we are witnessing is not mere market volatility — it is a wholesale transformation of the global economic order." According to Mognetti, Ether's underperformance led to outflows of $23 million from the CoinShares Physical Staked Ethereum ETP (ETHE). Assets under management fell by 10.7%, closing Q1 at $1.52 billion.
CoinShares' results for Q1 2025 highlight significant declines in both net profit and other key metrics, attributed to broader economic challenges and market shifts.
