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CoinShares Reports 33% Increase in Q2 2023 Revenue, Profits Reach $6.76 Million

CoinShares, a European manager of cryptocurrency exchange-traded products (ETPs), saw a 33% increase in Q2 2023 revenue compared to the same quarter last year, reaching £20.3 million ($25.9 million). The firm's asset management fees decreased by 25% to £10.6 million ($13.52 million), but this was offset by a £10 million ($12.76 million) gain in capital markets operations. CoinShares' profits for the quarter were £5.3 million ($6.76 million), compared to a loss of £0.6 million ($0.77 million) in Q2 2022. The company also implemented a tool called "Ledger Lens" to allow investors to verify the backing of its ETPs in real-time.

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