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CoinShares' Q1 net profit dropped by 42.2% year-on-year, with the CEO stating that the global economy is undergoing a "comprehensive transformation."
[CoinShares Q1 net profit fell 42.2% year-on-year, CEO says global economy is undergoing a “comprehensive transformation”] CoinShares reported that its net profit for the first quarter of 2025 fell to $24 million, a decrease of 42.2% compared to the same period last year. The company’s CEO Jean-Marie Mognetti stated in a letter to shareholders, “What we are witnessing is not merely market Fluctuation — but a comprehensive transformation of the global economic order.” Poor performance of Ethereum led to outflows of $23 million from CoinShares Physical Staked Ethereum ETP (ETHE). “Due to a broader market correction — including a 12.1% fall in Bitcoin prices — total assets under management (AuM) decreased by 10.7%, ending the first quarter at $1.52 billion.”