CoinShares, a leading European investment firm, has reported impressive financial results for the second quarter of 2024. The company's revenue increased by 110% compared to the same period in 2023 and amounted to £22.5 million ($28.5 million).

After tax, CoinShares' profit amounted to £403.9 million ($510 million). The main factors behind the growth were the successful bankruptcy claims of FTX and the acquisition of Valkyrie Funds.

Despite the fall in cryptocurrency prices, CoinShares continues to develop its products, such as the Valkyrie spot Bitcoin ETF and Bitcoin mining ETF. The board of directors also approved a special dividend for shareholders.

CoinShares CEO Jean-Marie Monetti noted that the strong financial results allow the company to implement a new dividend policy and expand its presence in the US and Europe. 🚀

However, the decline in cryptocurrency prices and the write-down of investments in FlowBank led to some losses, which reduced the annual revenue to £1.8 million ($2.29 million).