According to Odaily Planet Daily, European crypto asset management firm CoinShares reported Q2 net profit of $32.4 million, a 5.3% decrease from the previous quarter and a 1.9% increase from the previous year. This was primarily due to an increase in asset management fees and a rebound in its financial strategies. Assets under management (AUM) rose 26% from the previous quarter to $3.5 billion, driven by record inflows into its spot crypto exchange-traded funds (ETPs).

CoinShares CEO Jean-Marie Mognetti stated that the rebound in Bitcoin and Ethereum prices and increased market activity will create a positive outlook for the second half of the year. The company also confirmed that it is preparing for a US IPO to capitalize on deeper capital markets and a favorable regulatory environment, further expanding its global presence following its listing on Nasdaq Stockholm, Sweden. (The Block)