Digital asset manager CoinShares earns $32.4 million in Q2 profit, powered by cryptocurrency rally and increased assets under management to $3.5 billion; US stock market listing is anticipated.

In a significant development for the crypto industry, CoinShares, a leading European digital asset exchange-traded product (ETP) provider, reported impressive growth in the second quarter of 2025. The company's assets under management surged to a record high of $3.46 billion, marking a 26% increase from the previous quarter.

The surge in assets was primarily due to the rising prices of major cryptocurrencies, with Bitcoin rising 29% and Ethereum advancing 37% during the quarter. The company's strong performance was also bolstered by its leadership in the European digital asset ETP market.

CoinShares' CEO, Jean-Marie Mognetti, attributed the company's success to the favourable regulatory climate and the potential for expansion beyond Europe. He mentioned that the company is preparing to shift its listing from Sweden to the United States, aiming to capture deeper investor demand. The listing is expected to take place in the third quarter of 2025.

The company's net profit for Q2 2025 was $32.4 million, a slight increase from the same quarter the previous year. This growth was driven by various sources, including asset management fees, which contributed $30 million to the net profit. Investor withdrawals in some products were more than offset by crypto price appreciation.

Liquidity provisioning added $1.5 million, while lending and delta-neutral strategies delivered $4.8 million combined. The company's capital markets unit generated $11.3 million in income and gains during the quarter, with Ethereum staking being the biggest contributor, generating $4.3 million. Treasury operations produced $7.8 million in unrealized gains for the period.

Physical-backed products at CoinShares attracted $170 million of inflows in Q2, the second-strongest quarter on record. The company expects these conditions to aid its next growth phase as it expands into the US market, following in the footsteps of recent public listings of Circle and Bullish.

As CoinShares prepares for its move to the US, it holds the lead in the European digital asset ETP market. The company's strategic shift reflects the growing demand for cryptocurrencies in the US market, offering a promising future for CoinShares and the crypto industry as a whole.

Digital asset manager CoinShares earns $32.4 million in Q2 profit, powered by cryptocurrency rally and increased assets under management to $3.5 billion; US stock market listing is anticipated.