CoinShares, a digital asset investment firm with offices in the United States and Europe, reported a decline in net profit to $24 million in the first quarter of 2025, marking a 42.2% decrease from the same period last year. While the company sustained positive profits and EBITDA in Q1 2025, the profit margins saw a drop compared to the prior year. CoinShares had achieved a net profit of $41.5 million and an EBITDA of $35.5 million in the first quarter of the previous year. The year-over-year comparison revealed a 42.2% decrease in net profit and a 15.5% decline in EBITDA for CoinShares. The performance for the quarter was primarily driven by CoinShares’s ETPs, which experienced net inflows of $268 million, with the Physical Bitcoin (BITC) ETP contributing $202 million. Revenue linked to assets under management rose from $24.5 million to $29.6 million, reflecting a 20.8% increase. CoinShares’s stock has observed a 9.4% decline year-to-date according to Google Finance. CEO Jean-Marie Mognetti acknowledged macroeconomic challenges that surpassed market movements during the quarter, stating, “What we are witnessing is not mere market volatility — it is a wholesale transformation of the global economic order.” Mognetti highlighted that Ether’s underperformance led to $23 million in outflows from the CoinShares Physical Staked Ethereum ETP (ETHE), resulting in a 10.7% decrease in assets under management to $1.52 billion at the end of Q1. The first quarter of 2025 saw mixed results for crypto companies amidst market disruptions, with revenue downturns evident across various sectors. Coinbase’s revenue dropped by 10% quarter-over-quarter, while Kraken experienced a 7% revenue decline from the previous quarter. Additionally, Michael Saylor’s Bitcoin treasury company, Strategy, and Bitcoin miner Core Scientific missed Wall Street’s estimates. The period was characterized by high market volatility following global tariff implementations by US President Donald Trump, causing Bitcoin prices to plummet. Ether also faced significant price pullbacks during this period.