Crypto asset manager CoinShares recorded profits after tax of nearly 404 million pounds ($513.1 million) in Q2, a significant increase from the previous year's 10 million pounds. Despite a loss of $481.4 million on the fair value of digital assets due to market pullback, CoinShares' comprehensive income for the quarter reached $32.6 million.
CoinShares' total assets under management nearly doubled to $5.3 billion, with asset management fees more than doubling to $28.45 million. The acquisition of Valkyrie's ETF unit bolstered the U.S. arm of CoinShares' ETP business, contributing to its enhanced financial performance.
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