Asset Management was CoinShares’s largest segment in fiscal 2025, bringing in $126.37M of $197.65M (64%).
| Segment | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Asset Management | $53.71M | $111.69M | $126.37M |
| Capital Markets | $41.29M | $66.92M | $71.46M |
| Other & Unallocated | $5.69M | $19.19M | -$179.00K |
| Total | $100.68M | $197.80M | $197.65M |
CoinShares brought in $197.65M from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 0.1% from $197.80M in fiscal 2024. Asset Management was the largest at $126.37M (63.9%), ahead of Capital Markets at $71.46M (36.2%).
Compared with fiscal 2024, Asset Management grew 13.1% to $126.37M and Capital Markets grew 6.8% to $71.46M. From fiscal 2023 to 2025, combined revenue from these segments grew from $100.68M to $197.65M, a compound annual growth rate of 40.1%. Asset Management's share of the total rose from 53.3% to 63.9%.
The total is net of Other & Unallocated, which took $179.00K off revenue in fiscal 2025.
CoinShares (CSHR) reports its revenue by segment. In fiscal 2025, Asset Management was its largest segment, bringing in $126.37M (63.9% of the total), followed by Capital Markets at $71.46M (36.2%).
Asset Management was CoinShares' largest segment in fiscal 2025, bringing in $126.37M, or 63.9% of the $197.65M total across its three segments.
Asset Management grew faster than Capital Markets in fiscal 2025, up 13.1% from $111.69M to $126.37M. Capital Markets grew 6.8% to $71.46M.
Every figure comes from CoinShares' annual financial filings, as reported. Each line keeps the name CoinShares gives it, and years follow its fiscal calendar.
CoinShares' revenue by segment goes back to fiscal 2023, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.