CoinShares Q1 net profit fell 42.2% year-on-year, CEO said the global economy was undergoing a "comprehensive transformation"
According to online reports, CoinShares said its net profit for the first quarter of 2025 fell to US$24 million, down 42.2% from the same period last year. "What we are witnessing is not simple market fluctuations-it is a comprehensive transformation of the global economic order," company CEO Jean-Marie Mognetti said in a letter to shareholders. The poor performance of Ethereum resulted in a $23 million outflow of CoinShares Physical Staked Ethereum ETP (ETHE). "Due to broader market corrections-including a 12.1% drop in Bitcoin prices-total assets under management (AuM) fell 10.7% to $1.52 billion at the end of the first quarter."
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