CoinShares' Q1 net profit fell 42.2% year-on-year, CEO says global economy is undergoing "comprehensive transformation"
2025-05-13 23:02:25
CoinShares said its 2025 Quarter 1 net profit fell to $24 million, down 42.2 per cent from the same period last year. "What we are witnessing is not pure market volatility - but a full transformation of the global economic order," chief executive Jean-Marie Mognetti said in a letter to shareholders. The poor performance of Ethereum led to outflows of $23 million from CoinShares Physical Staked Ethereum ETP (ETHE). "Due to broader market corrections - including a 12.1 per cent drop in bitcoin prices - total assets under management (AuM) fell 10.7 per cent to $1.52 billion at the end of Quarter 1."
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