CoinShares plans to go public in the U.S., with a net profit of $32.4 million in Q2

ChainCatcher news, according to The Block, European crypto asset management company CoinShares reported a net profit of $32.4 million for the second quarter, benefiting from a surge in cryptocurrency prices that drove record inflows into its physically-backed exchange-traded products, resulting in a significant increase in assets under management. Driven by the rise in cryptocurrency prices and record inflows into the company's ETPs, assets under management grew by 26% quarter-over-quarter, reaching $3.5 billion.

The report states that CoinShares is preparing for a listing in the United States, with a more specific timeline for the U.S. listing to be clarified this quarter. CoinShares is headquartered in the British Crown Dependency of Jersey but is currently listed on Nasdaq Stockholm in Sweden.