A Unified License for 27 Countries

Headquartered in Saint Helier, Jersey, CoinShares received its MiCA license through France’s financial authority, the Autorité des Marchés Financiers (AMF). This regulatory green light enables the firm to expand its crypto investment services into new European territories, building upon its existing operations in countries like Germany, the Netherlands, and Luxembourg.

With MiCA now added to its regulatory stack, alongside existing MiFID and AIFM licenses, CoinShares becomes the only major European digital asset manager to hold all three key financial permissions—setting it apart in the rapidly evolving crypto space.

Opening the Doors to a $38.7 Trillion Market

CoinShares CEO Jean-Marie Mognetti described the MiCA approval as a transformative step for both the company and the broader European digital asset ecosystem. “We now have a clear and harmonized regulatory framework across the EU. Being the first fully licensed digital asset manager based in continental Europe to meet these standards is a point of pride,” Mognetti stated.

The license could significantly enhance access to the $38.7 trillion European asset management market, facilitating broader exposure to regulated crypto investment products. This is particularly promising for institutional investors seeking compliant access to bitcoin, ethereum, and other altcoin holdings.

Leading Among Peers

While major global crypto exchanges like Coinbase, Bybit, OKX, and Crypto.com have also secured MiCA licenses, CoinShares stands out as the first digital asset management firm to obtain this approval. Its institutional focus positions the company as a pioneer in delivering compliant and secure crypto exposure across Europe.

Founded in 2013, CoinShares is publicly traded on the Nasdaq Stockholm exchange and currently manages more than $9 billion in digital assets. Following the MiCA announcement, the company’s stock rose 1.7%, reaching $12.66. Year-to-date, shares have surged over 46%, underscoring growing investor confidence in its long-term vision.

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The post CoinShares Secures MiCA License: Unlocks Access to 27 EU Markets appeared first on Coin Engineer.

CoinShares saw a significant surge in Q1 revenue, with a year-over-year increase of 216%. The firm reported gains and other income totaling £43.9 million ($55 million), compared to just £13.9 million ($17.4 million) in Q1 2023. This strong performance translated to adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of £34.2 million ($42.9 million), reflecting a more than fourfold increase compared to the previous year.

Total Comprehensive Income Skyrockets

CoinShares’ total comprehensive income, encompassing all earnings and losses, reached a staggering £34.1 million in Q1. This figure represents an over 1,100% increase compared to the same period in 2023, highlighting the company’s exceptional financial performance.

CoinShares’ AUM Hits $6 Billion Milestone

The firm’s total assets under management (AUM) reached a new high of £4.77 billion ($6 billion) as of March 31, 2024. Notably, £3.82 billion ($4.8 billion) of this AUM pertains to exchange-traded products issued by CoinShares and XBT Provider held directly on the company’s balance sheet.

The remaining £0.95 billion ($1.2 billion) is attributable to the recently acquired Valkyrie ETF business and the BLOCK index. CoinShares’ acquisition of Valkyrie Funds, including the popular BRRR spot bitcoin ETF, in March 2024, marked a strategic move to expand into the US market.

CEO Highlights Growth and Expansion

“The first quarter of 2024 stands out as our most successful period to date, demonstrating exceptional strength and profitability for CoinShares,” stated Jean-Marie Mognetti, CEO of CoinShares. “These results not only reflect our robust financial performance but also showcase our enhanced strategic growth capabilities. The successful acquisition of Valkyrie’s ETF business in March stands as a testament to this. This pivotal move has allowed us to expand our operations across the Atlantic, solidifying our position as a global leader in the digital asset management space.”

For further insights, investors can tune into CoinShares’ earnings call scheduled for 10:00 AM ET today.

The post CoinShares Soars in Q1, Reports Record Revenue and AUM Growth appeared first on Coin Engineer.