CoinShares International, an alternative asset manager, has reported strong financial results in the fourth quarter of 2023. Its revenue, gains, and other income amounted to £33.3 million. Additionally, their adjusted EBITDA for the same period was £25.7 million.
The company’s full-year revenue grew to £85.7 million, up from £72.4 million in 2022. Adjusted EBITDA for 2023 rose to £56.9 million compared to a negative £6.8 million the previous year.
Asset management fees remained healthy at £13 million in Q4, aided by significant inflows into the CoinShares Physical platform. The firm’s indexing arm also saw assets benchmarked to its Blockchain Global Equity Index rise to £576.1 million.
CoinShares updated its dividend policy to agree annual payments between 20% to 40% of total comprehensive income, excluding currency differences. This rewards shareholders while still allowing for business growth.
CEO Jean-Marie Mognetti cited the strong close to 2023 to validate CoinShares’ strategy. With momentum, the company now looks to expand its digital asset investment platform globally. The full-year results mark CoinShares’ second-best performance ever, behind only 2021.
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