CoinShares Reports First-Half 2026 Revenue Decline and Net Loss

CoinShares PLC reported first-half 2026 results for the six months ended June 30, 2026, with total revenue of $51.4 million, down from $80 million in the first half of 2025. According to ChainCatcher, assets under management fell to $5.5 billion from $7.4 billion at December 31, 2025, while net inflows for the period totaled $27.6 million. CoinShares Physical recorded net inflows of $155.9 million, while the legacy CoinShares XBT Provider platform saw net outflows of $104.6 million. Asset management revenue was $40 million, capital markets revenue was $11.4 million, and operating income was $3.4 million. The company posted an operating loss of $5.1 million and segment EBITDA of $21.6 million. Net loss was $23.9 million, including $16.6 million in unrealized losses from XBT pricing differences and $15.4 million in unrealized losses on inventory digital asset holdings. CoinShares said net assets were about $453 million, with no long-term debt and available capital of about $413.9 million. The board plans to seek shareholder authorization for a share buyback program at a special general meeting on September 15, 2026. The company also said it launched its first Bitcoin mining UCITS ETF in July and completed its acquisition of Bastion in early September.