CoinShares records robust quarter with $26.3 million EBITDA, targeting US stock exchange for future listing
CoinShares, a prominent digital asset management firm, reported a net profit of $32.4 million for Q2 2025, marking a significant increase in its financial performance. The company's total assets under management (AUM) also saw a rise, growing from $2.75 billion to $3.46 billion by the end of the quarter.
Jean-Marie Mognetti, CEO of CoinShares, expressed optimism about the company's future, particularly highlighting the favorable regulatory environment in the U.S. for crypto innovation. CoinShares plans to list in the U.S. market and shift its market presence, with the planned timing for the IPO expected to close in the fourth quarter of 2025, listing on the Nasdaq through a merger with Vine Hill Capital Investments.
In Q2, CoinShares' asset management unit saw inflows of $170 million, generating $6.8 million in management fees. The treasury division posted $7.8 million in unrealized gains, and the capital markets division brought in $11.3 million in income and gains. Ethereum staking was the largest single contributor to CoinShares' capital markets income in Q2.
Meanwhile, in the broader cryptocurrency market, Solana (SOL) has seen a notable development. Pantera Capital, a prominent crypto investment firm, backed Solana with a $1.1B bet, aiming for a $750K Bitcoin price. Despite the substantial investment, the Solana price action has stalled, but it could potentially explode.
However, not all news in the crypto space has been positive. One user lost $1M USDC to a MEV bot after a mistaken transaction, highlighting the need for increased user education and caution in the rapidly evolving digital asset market.
In other news, Nvidia stock dropped by 3% following accusations of breaching China's anti-monopoly law. The UAE M2 crypto exchange has also changed its business model, while Santander's Openbank rolled out Bitcoin, Ether, and more for European users.
Monero, on the other hand, faces a growing double-spending threat after a block reorganization. Hackers seized the FBI's botnet takedown targets and built a stronger cyberweapon from it, posing a significant security concern.
Exciting developments are on the horizon as XRP and Dogecoin ETFs are set to launch this week. Pi Network began its final Testnet1 upgrade ahead of the mainnet transition, and BYD stock lost $45 billion in value due to rising doubts over China's EV dominance.
Lastly, Larry Ellison, the co-founder of Oracle, has multiple ventures including OpenAI, Paramount, Warner Bros., and TikTok. Solana creators received $19.3M from Pump.Fun streams, and Next Technology filed for a $500M common stock offering to buy more Bitcoin.
These updates underscore the dynamic and evolving nature of the digital asset and technology industries, offering a glimpse into the exciting developments and challenges that lie ahead.
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