CoinShares Reports Record Profits as Bitcoin and Ether Prices Surge

European digital asset manager CoinShares saw a significant rise in profits during the second quarter, reporting a $32.4 million net profit, up from $24 million in the previous period. This surge was fueled by a rally in Bitcoin and Ethereum prices that drove a substantial increase in assets under management (AUM). CoinShares reported an impressive 26% growth in AUM to $3.46 billion, despite a modest $126 million outflow from legacy XBT Provider products during the quarter. This was largely offset by strong price rebounds in Bitcoin and Ether, contributing to higher fees and further bolstering asset values.