CoinShares Posts Lower First-Half Revenue as Crypto Prices Slide

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CoinShares reported lower revenue and profitability for the first half of 2026 as Bitcoin fell about 32% and Ethereum about 48%, according to Chief Executive Officer Jean-Marie Mognetti. Total GAAP revenue dropped to $51.4 million from $80 million a year earlier, while segment EBITDA fell to $21.6 million from $59 million, a result that included approximately $4.9 million in non-recurring Nasdaq listing and U.S. GAAP transition costs. Assets under management ended June at $5.5 billion, down from $7.4 billion at the end of December 2025, though interim Chief Financial Officer Richard Nash said roughly $1.9 billion of that decline came from market movements and the company still recorded about $28 million of net inflows, including approximately $156 million into its CoinShares Physical platform. AUM recovered to about $6.9 billion by the end of August on higher digital-asset prices and approximately $74 million of positive net flows through Aug. 31. CoinShares ended June with no long-term debt and $413.9 million in available capital, and Mognetti said the board will seek shareholder approval for a multiyear repurchase authority covering up to 25% of outstanding shares, a ceiling rather than a spending commitment.

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