DeFi Technologies Inc.

DeFi Technologies reported lower second-quarter revenue and assets under management as digital-asset prices declined, while the company pointed to positive fund inflows, cost reductions and progress on institutional product initiatives. Average assets under management during the quarter totaled approximately CAD 471.5 million, while quarter-end AUM was CAD 397.2 million, and revenue was CAD 7.8 million, down from CAD 11.2 million in the prior period. The company's Valour exchange-traded product business generated CAD 22.8 million in net inflows despite the weaker market environment, with more than 40% of quarterly inflows directly attributable to institutional events and outreach. DeFi Technologies ended the period with 102 ETPs and structured products and plans to add roughly eight more products during the third quarter. Management is targeting annualized cash operating costs of CAD 36 million to CAD 39 million while advancing new initiatives, including the Smart Crypto Fund, a European UCITS structure, custody services and expanded arbitrage strategies.