CoinShares announced $55.2 million in total revenue, gains, and other income for the initial quarter, marking a 216% year-over-year surge, according to its earnings report released on May 14. The company also disclosed a comprehensive income of $42.9 million for the quarter, an elevenfold increase compared to the previous year. In addition, it reported an EBITDA of $43.0 million and an adjusted EPS of $0.63.

With regards to cryptocurrency holdings, CoinShares reported possessing $4.0 billion worth, including $2.3 billion in Bitcoin (BTC), $1.6 billion in Ethereum (ETH), and $35 million in other cryptocurrencies. Describing the quarter as its "strongest ever," CoinShares asserted that it surpassed its performance in almost every aspect since 2021.

CEO Jean-Marie Mognetti highlighted favorable market conditions, particularly the launch of spot Bitcoin ETFs in the US, which he deemed as a validation of CoinShares' investment thesis. He acknowledged the competitive landscape, especially with the presence of major players like BlackRock and Fidelity, and emphasized the company's focus on breaking even with its spot Bitcoin ETF.

Regarding its European operations, CoinShares discussed various aspects, including the performance of its ETPs and the impact of increased competition from US ETFs. It also mentioned the activities and outcomes of its Nordic-focused crypto ETP, XBT Provider, and the performance of its BLOCK Index, which provides exposure to listed blockchain companies.