Press releases

24 January 2024 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK)17 January 20242,100 37.35 38.90 38.45 18 January 20245,767 39.05 39.85 39.41 19 January 20246,957 37.15 39.20 38.16 22 January 20241,500 39.00 39.25 39.12 16,324

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 24 January 2024 amounts to 1,176,591 shares. The total number of shares in CoinShares amounts to 67,655,461.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 24 January 2024.

Attachment

• 20240124 - Appendix to press release - share buy-back

17 January 2024 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK) 10 January 2024 9,100 39.05 40.40 39.54 11 January 2024 1,798 39.00 40.90 40.41 12 January 2024 6,933 38.00 40.90 39.82 15 January 2024 2,450 37.00 37.70 37.38 16 January 2024 6,374 36.05 37.40 36.65 26,655

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 17 January 2024 amounts to 1,518,577 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 17 January 2024.

Attachment

• 20240117 - Appendix to press release - share buy-back

CoinShares has confirmed the exercise of its strategic option to acquire Valkyrie Funds, thereby bolstering its entrance into the U.S. market.

12th January 2023 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares'' or “the Company”) (Nasdaq Stockholm: CS;US OTCQX: CNSRF), today announced it has exercised the option to acquire Valkyrie Funds LLC (“Valkyrie Funds”), the U.S. digital asset manager's investment advisory business specialising in actively managed cryptocurrency exchange-traded funds, from Valkyrie Investments Inc. ("Valkyrie Investments").

CoinShares' decision to exercise this option comes as a direct result of SEC approval for the issuance of Valkyrie’s spot Bitcoin ETF, The Valkyrie Bitcoin Fund (BRRR), which commenced trading on Thursday 11th January 2024 at 09:30 am ET on Nasdaq as part of the first cohort of issuers for such products in the U.S. This move aligns with the positive developments in the US regulatory landscape and CoinShares' strategy to expand its digital asset offerings in the U.S. market.

Upon completion, the acquisition is expected to bolster CoinShares' existing AUM, currently at $4.5 billion by approximately $110 million, being the current level of AUM within Valkyrie’s existing ETF products: The Valkyrie Bitcoin Fund (Nasdaq: BRRR), The Valkyrie Bitcoin and Ether Strategy ETF (Nasdaq: BTF) and The Valkyrie Bitcoin Miners ETF (Nasdaq: WGMI).

The exercise of this option signifies a pivotal step in the acquisition process, clearly demonstrating CoinShares' commitment to acquiring Valkyrie Funds. Once finalised, this will lead to the direct integration of Valkyrie’s’ funds and operations into the CoinShares group.

CEO of CoinShares, Jean-Marie Mognetti, commented on today’s news: “Since our inception in 2014, CoinShares has consistently led the European digital asset industry, setting benchmarks for transparency and investor protection with its regulated digital asset products. Our expertise has enabled us to dominate the European market, commanding over 40% of all assets under management in crypto ETPs. Exercising our option to acquire Valkyrie Funds aims at extending our European success in the U.S, offering unparalleled access to regulated digital asset products to American investors. This expansion is a clear statement of our appetite for acquisition to support our ambition to be a global leader in the digital asset space.”


Leah Wald, CEO of Valkyrie Funds, stated: “CoinShares has established itself as a premier player in the digital asset space and we’re excited to see how they continue advancing the space by leveraging Valkyrie’s team and expertise. CoinShares' renowned capabilities and proven success in combination with our strengths promise to propel us forward in the American digital asset investment sphere, particularly within the digital asset ETF market. Being part of such a strong and successful group marks a promising new chapter for us.”


The acquisition is pending the completion of satisfactory due diligence, the finalisation of necessary legal agreements and final Company board approval. Valkyrie Funds is maintaining its operational independence until the acquisition is fully executed and finalised.


ABOUT COINSHARES
CoinShares is the European leading investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the U.K. and the U.S. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the U.S. by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.


ABOUT VALKYRIE
Valkyrie Investments is a specialised alternative financial services firm at the intersection of traditional finance and the emerging cryptocurrency sector whose affiliates aim to offer asset management, research and other services. Headquartered in Nashville, Valkyrie aims to provide exposure to the emerging digital asset class through traditional financial vehicles. Valkyrie is led by seasoned asset managers who have previously launched multiple ETFs, publicly traded funds and Exchange Traded Products, including digital asset funds with backgrounds across Guggenheim Partners, MUFG Investor Services (US), Chicago Board of Trade, Chicago Mercantile Exchange, and the World Bank.


For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]


PRESS CONTACT

CoinShares
Benoît Pellevoizin
[email protected]
+33 6 72 44 07 17

M Group Strategic Communications
Peter Padovano
[email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 11AM CET on Friday 12th January 2024.

10 January 2024 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK)03 January 20247,200 38.60 39.85 39.26 04 January 20241,611 38.75 39.20 39.07 08 January 20241,326 38.20 39.20 38.47 09 January 20242,033 39.10 40.10 39.73 12,170

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 10 January 2024 amounts to 1,491,922 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 10 January 2024.

Attachment

• 20240110 - Appendix to press release - share buy-back

03 January 2024 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK) 28 December 2023 6,500 40.05 40.75 40.30 29 December 2023 2,393 40.30 40.80 40.47 02 January 2024 6,700 39.90 41.45 40.88 15,593

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 03 January 2024 amounts to 1,479,752 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 03 January 2024.

Attachment

• 20240103 - Appendix to press release - share buy-back

31 December 2023 | SAINT HELIER, Jersey – CoinShares International Limited (“CoinShares'' or “the Company”) (Nasdaq Stockholm: CS;US OTCQX: CNSRF), Europe’s leading alternative asset manager specialising in digital assets, today announced changes in the composition of the Executive Management Committee.

Lewis Fellas, Head of CoinShares Hedge Fund Solutions, has been appointed as a member of the Executive Management Committee. Lewis is a seasoned asset manager with 23 years of industry experience (seven in digital assets) and brings with him a unique set of skills that will help to ensure the new division’s success.

In addition, Meltem Demirors has stepped down from the Executive Management Committee with immediate effect as part of a transition from her current position as Head of Strategy to one of Advisor.

About CoinShares

CoinShares is Europe’s leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. The firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

28 December 2023 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK)20 December 202380039.95 40.10 40.02 21 December 20238,45040.65 42.00 41.24 22 December 20233,80040.05 40.80 40.35 27 December 20236,42540.05 41.45 40.57 19,475

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 27 December 2023 amounts to 1,464,159 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

• For more information on CoinShares, please visit: https://coinshares.com
• Company | +44 (0)1534 513 100 | [email protected]
• Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Thursday, 28 December 2023.

Attachment

• 20231228 - Appendix to press release - share buy-back

20 December 2023 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK)13 December 2023400 40.60 42.15 41.56 14 December 2023500 42.40 42.40 42.40 15 December 20236,520 41.55 42.80 42.11 18 December 20237,600 41.50 43.10 42.46 19 December 20238,190 39.60 43.35 40.97 23,210

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 20 December 2023 amounts to 1,444,684 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 20 December 2023.

Attachment

• 20231220 - Appendix to press release - share buy-back

13 December 2023 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK)06 December 20232,500 39.85 40.85 40.21 07 December 20231,900 39.85 40.70 40.19 08 December 20236,250 39.90 41.45 40.40 11 December 20232,250 38.50 39.30 38.98 12 December 20232,851 39.00 40.30 39.90 15,751

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 13 December 2023 amounts to 1,421,474 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 13 December 2023.

Attachment

• 20231213 - Appendix to press release - share buy-back

06 December 2023 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK)29 November 20233,360 38.60 39.60 38.91 30 November 20234,145 38.05 39.45 38.60 01 December 20235,100 37.35 38.75 37.76 04 December 20231,442 39.00 40.15 39.83 05 December 20233,100 39.00 40.05 39.34 17,147

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 06 December 2023 amounts to 1,405,723 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 06 December 2023.

Attachment

• 20231206 - Appendix to press release - share buy-back

29 November 2023 | SAINT HELIER, Jersey - As announced on 07 November 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 November 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK) 22 November 2023 2,550 40.75 41.40 40.95 23 November 2023 2,147 39.65 40.75 40.17 24 November 2023 3,800 39.80 41.45 40.79 27 November 2023 4,816 39.15 41.00 39.84 28 November 2023 3,850 39.05 40.50 39.62 17,163

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 29 November 2023 amounts to 1,388,576 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 29 November 2023.

Attachment

• 20231129 - Appendix to press release - share buy-back

24 November 2023 | SAINT HELIER, Jersey – CoinShares International Limited (“CoinShares'' or “the Company”) (Nasdaq Stockholm: CS;US OTCQX: CNSRF), Europe’s leading alternative asset manager specialising in digital assets, today announced changes in the composition of the Nomination Committee prior to the Annual General Meeting on 31 May 2024.

The composition of the Nomination Committee ahead of the Annual General Meeting was announced in a press release on 13 September 2023. Subsequent to the press release, Gunther Thumman (representing Mognetti Partners Limited) has stepped down from the Nomination Committee and Jean-Frédéric Mognetti has been appointed as the Nomination Committee representative for Mognetti Partners Limited in place of Mr. Thumman.

Following the change, the Nomination Committee for the Annual General Meeting on 31 May 2024 shall consist of the following persons:

• Michael Carlton, appointed by Daniel Masters, Chair of the Nomination Committee
• Jean-Frédéric Mognetti, appointed by Mognetti Partners Limited
• Paul Davidson, appointed by Russell Newton
• Johan Lundberg, representative of the Board of Directors of CoinShares International Limited

The Nomination Committee’s recommendations will be presented in the Notice of the 2024 Annual General Meeting as well as on the Company’s website: https://coinshares.com. CoinShares International Limited’s Annual General Meeting will be held virtually on 31 May 2024.

Shareholders who wish to submit proposals to the Nomination Committee may do so to the Chair of the Board by sending an email to [email protected]. In order for the Nomination Committee to be able to consider a proposal, it must submit well in advance of the Annual General Meeting, but by 12 April 2024 at the latest.

For further information, please contact:
Jeri-Lea Brown, Group Company Secretary
+44 (0) 1534 513168
[email protected]

About CoinShares

CoinShares is Europe’s leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. The firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

22 November 2023 | SAINT HELIER, Jersey - As announced on 07 June 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 June 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK) 15 November 2023 1,800 40.70 41.25 40.96 16 November 2023 4,989 41.15 42.60 41.68 17 November 2023 5,000 40.55 41.95 41.30 20 November 2023 2,431 41.60 42.10 41.81 21 November 2023 2,300 41.50 43.15 42.20 16,520

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 22 November 2023 amounts to 1,371,413 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 22 November 2023.

Attachment

• 20231122 - Appendix to press release - share buy-back

• This option to acquire is the latest step in CoinShares’ U.S. expansion, following the launch of Hedge Fund Solutions in September 2023 .
  
• CoinShares has also entered into a brand licensing agreement for Valkyrie’s products notably its pending Bitcoin spot ETF.
• Valkyrie will continue to operate as an independent entity until CoinShares decides to exercise its option which remains open until the end of Q1 2024.
  
  

16th November 2023 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares'' or “the Company”) (Nasdaq Stockholm: CS;US OTCQX: CNSRF), the leading European investment company specialising in digital assets, today announced it has secured an exclusive option to acquire Valkyrie Funds LLC (“Valkyrie Funds”), the U.S. digital asset manager’s investment advisory business specialising in actively managed cryptocurrency exchange traded funds, from Valkyrie Investments Inc. (“Valkyrie Investments”).

CoinShares’ option to acquire Valkyrie Funds from Valkyrie Investments, is active from now until its expiry on 31 March 2024.

CEO of CoinShares, Jean-Marie Mognetti, commented on today’s news: “The global ETF market is fragmented. The establishment of crypto spot ETPs in Europe since 2015, a development about to be mirrored in the U.S., is the perfect illustration. This disparity in market evolution presents both challenges and significant opportunities. The option to acquire Valkyrie is accelerating our expansion into the U.S. market and the deployment of our digital asset management expertise globally.

Valkyrie Fund’s deep understanding of the U.S. market and track record of developing investment products for crypto exposure aligns perfectly with our vision and operational ethos. CoinShares is looking forward to exploring this acquisition option and bringing, with the know-how of Valkyrie’s founders, premier digital asset products to American investors."

For the last 10 years, CoinShares has established itself as the leading player within the European crypto exchange traded product market, where it currently commands the largest market share and oversees more than $3.2B in AUM, at the date of this communication. The strategic acquisition option is the next step in CoinShares’ expansion into the U.S. market, following the launch of CoinShares Hedge Fund Solutions in September of 2023.

As part of the acquisition option deal, the two companies have finalised a brand licensing agreement. Throughout the option period, Valkyrie Investments is granted a limited, revocable global licence to use the "CoinShares" name for its S-1 filings with the SEC. Should the SEC approve the Valkyrie Bitcoin Fund, Valkyrie Investments plans to incorporate the CoinShares name, signifying CoinShares' first venture into offering a mainstream crypto passive product in the U.S. market.

“At the heart of our mission is to expand high-quality digital asset investment opportunities, joining CoinShares through this move underscores this shared ambition and vision”, stated Leah Wald, CEO of Valkyrie. “CoinShares is a recognised, global leader and first-mover in the digital asset investment landscape with exceptional market expertise and an innovative spirit. Together, with Valkyrie’s established U.S. presence and existing offerings, alongside CoinShares global reach and infrastructure, we’re poised to deliver groundbreaking products aimed at solving investors’ needs.”

The option grants CoinShares the exclusive right to purchase 100% of Valkyrie Funds from Valkyrie Investments, as well as all of Valkyrie Investments’ associated rights with the Valkyrie Bitcoin Fund and any other unlaunched ETFs currently held by Valkyrie Investments. CoinShares' exercise of the acquisition option is contingent on regulatory approvals and consents, satisfactory due diligence and the completion of requisite legal agreements. Valkyrie Funds will continue to operate as an independent entity until any potential acquisition by CoinShares is finalised and the transaction is executed.

ABOUT COINSHARES
CoinShares is the European leading investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

ABOUT VALKYRIE
Valkyrie is a specialised alternative financial services firm at the intersection of traditional finance and the emerging cryptocurrency sector whose affiliates aim to offer asset management, research and other services. Headquartered in Nashville, Valkyrie aims to provide exposure to the emerging digital asset class through traditional financial vehicles. Valkyrie is led by seasoned asset managers who have previously launched multiple ETFs, publicly traded funds and Exchange Traded Products, including digital asset funds with backgrounds across Guggenheim Partners, MUFG Investor Services (US), Chicago Board of Trade, Chicago Mercantile Exchange, and the World Bank.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

PRESS CONTACT

CoinShares
Benoît Pellevoizin
[email protected]
+33 6 72 44 07 17

M Group Strategic Communications
Peter Padovano
[email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 4PM CET on Thursday 16th November 2023.

15 November 2023 | SAINT HELIER, Jersey - As announced on 07 June 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to extend a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 07 June 2023, up to and including 30 May 2024 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK)08 November 20234,142 38.95 40.30 39.68 09 November 20233,940 40.15 40.90 40.61 10 November 2023600 41.25 41.60 41.49 13 November 20234,440 39.95 42.25 41.08 14 November 20235,091 40.05 41.75 41.01 18,213

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 15 November 2023 amounts to 1,354,893 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Wednesday, 15 November 2023.

Attachment

• 20231115 - Appendix to press release - share buy-back

07 November 2023 | SAINT HELIER, Jersey - As announced on 04 April 2023, the Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm Market: CS;US OTCQX: CNSRF), Europe's leading alternative asset manager specialising in digital assets, resolved to implement a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 01 June 2023, up to and including 06 November 2023 for total maximum amount of SEK 30 million in accordance with the authorisation from the Annual General Meeting on 31 May 2023.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board's review of the Company's capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

DateNumber of shares acquiredLowest price paid (SEK)Highest price paid (SEK)Volume weighted average (SEK)02 November 20234,745 38.60 40.10 39.31 03 November 2023900 38.50 39.60 39.06 06 November 20234,702 39.00 40.50 39.96 10,347

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company's holding of own shares as of 07 November 2023 amounts to 1,336,680 shares. The total number of shares in CoinShares amounts to 68,013,771.

For a full break-down of repurchases made, please refer to the attached announcement.

About CoinShares

CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Tuesday, 07 November 2023.

Attachment

• 20231107 - Appendix to press release - share buy-back

07 November 2023 | SAINT HELIER, Jersey - The Board of Directors of CoinShares International Limited ("CoinShares" or the "Company") (Nasdaq Stockholm: CS;US OTCQX: CNSRF), Europe's largest digital asset investment firm, has resolved to extend the repurchase of its shares on Nasdaq Stockholm during the period 07 November 2023, up to and including 30 May 2024 for a total maximum amount of SEK 30 million in accordance with the authorisation granted at its Annual General Meeting on 31 May 2023.

The Board of Director's resolution to implement the share buyback program was made after its review of the Company's capital structure and is implemented for the purpose of reducing the capital of the Company.

The share buyback program will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation").

The share buyback program resolved by the Board of Directors is subject to the following terms:

1. Acquisitions may only be effected on Nasdaq Stockholm in accordance with MAR and the Safe Harbour Regulation.
   
   
2. Acquisitions shall be conducted and structured in accordance with the Nasdaq Stockholm Rulebook for Issuers.
   
   
3. Acquisitions shall commence no earlier than 07 November 2023 and shall end no later than 30 May 2024.
   
   
4. Acquisitions may only be effected at a price per share within the prevailing band of prices applying on Nasdaq Stockholm from time to time and in accordance with the restrictions relating to price in the Safe Harbour Regulation and set out in the resolution passed at the Annual General Meeting on 31 May 2023. The range of prices pertains to the range between the highest purchase price and the lowest selling price disseminated by Nasdaq Stockholm from time to time.
   
   
5. Acquisitions may only be effected in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Safe Harbour Regulation.
   
   
6. Shares may be repurchased for a total maximum amount of SEK 30 million. The Company's holding of own shares may not at any time exceed 10 per cent of the outstanding shares in the Company.
   
   
7. Payment for the shares shall be made in cash.

The total number of shares in CoinShares is at the date of this press release 68,013,771. At the time of this press release the Company holds 1,336,680 own shares.

About CoinShares

CoinShares is Europe’s largest and leading digital asset investment and trading group, managing billions of assets on behalf of a global client base. Our mission is to expand investing into digital assets with our trusted, regulated, best-in-class product suite that provides investors with trust and transparency when accessing cryptocurrencies. We believe that Bitcoin and blockchain networks are landmark innovations that will fundamentally reshape the global financial system and the way we interact digitally, and investors should be able to participate in this transformation. CoinShares is publicly listed on Nasdaq Stockholm under ticker CS and the OTCQX under the ticker CNSRF. CoinShares has multiple touchpoints with financial regulatory bodies around the world, including the AMF, JFSC and FINRA.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 08:00 GMT on Tuesday 07 November 2023.

7^th November 2023 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares'' or “the Company”) (Nasdaq Stockholm: CS;US OTCQX: CNSRF), the leading European alternative asset manager specialising in digital assets, has today published its results for the quarter ending 30^th September 2023.

Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

“Recent developments in the digital asset sector confirm our original conviction that crypto will be integrated into institutional frameworks and that regulatory oversight is critical to this. The convergence of TradFi and digital asset systems has accelerated leading to an increased price action and the appearance of decoupling signals between Bitcoin and leading equity indices.

We continued to execute on our strategy and delivered combined revenue, gains and income of £16.7 million in Q3. Profitability has been a core focus for CoinShares and we achieved Adjusted EBITDA of £9.9 million in the quarter, with an Adjusted Ebitda margin of 59%.”

Q3 2023 financial highlights

• Q3 revenue and gains and other income of £16.7 million (Q3 2022: £14.7 million - excluding exceptional loss relating to TerraUSD)
• Q3 adjusted EBITDA of £9.9 million (Q3 2022: £6.4 million)
• Total comprehensive income for Q3 2023 of £14.4 million (Q3 2022: £20.0 million)
  
  

Q3 2023 operational highlights

• In Q3, Europe's crypto exchange traded products (ETPs) experienced outflows due to stagnant market sentiment and the end of certain arbitrage opportunities for institutional players. CoinShares Physical had its lowest quarter for flows since inception, with net inflows of $6.7 million, of which its Bitcoin product saw $3.8 million of net outflows. In contrast, its altcoin products gained $10.5 million in inflows. After launching a Direct-to-Consumer campaign in Sweden for the XBT Provider platform, there was a significant increase in website sessions and purchasing intent, although the exact ROI remains hard to quantify. CoinShares remains a leading player in the European crypto ETP market, with 50% of market share. Despite challenges, our asset management business generated £10.5 million in Q3 revenues.
  
• In the Capital Markets segment, we saw a continued focus on building a strong infrastructure for CoinShares’ staking and lending operations. With crypto exchanges moving away from holding client funds, we’ve supported this transition, initiating steps in 2023 to reduce counterparty risk. CoinShares' main emphasis in its daily trading activities was on CME futures trading strategies, showing resilience despite challenges from low volatility and reduced spot volumes. Our Capital Markets business reported revenues of £9.3 million in Q3.
  
• In September, we officially launched our Hedge Fund Solutions initiative, starting discussions with external LPs across Asia, Europe, and notably, the U.S. With this new business, we can now tap into the world's largest asset management market. This move enhances our holistic approach which allows clients to tailor their portfolio based on their risk preferences. By the end of Q3, our initial strategies were operational and our team is preparing for external contributions. We are excited and optimistic about the strategies and plan to introduce more in the future.
  
  

ENDS

For the full CoinShares Q3 2023 report, click this link.

ABOUT COINSHARES

CoinShares is the leading European alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations | +44 (0)1534 513 100 | [email protected]

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out below, at 7:00 am CET on 7^th November 2023.

PRESS CONTACT

CoinShares
Benoît Pellevoizin
[email protected]

H/Advisors Maitland
Freddie Barber
[email protected]
+44 (0) 207 379 5151

Attachment

• COINSHARES_2023_Q3_FINAL