NEW YORK, May 20, 2026, 15:03 EDT
- CoinShares shares gained 3.3% to $5.33 on the Nasdaq Wednesday afternoon, recovering from where they ended Tuesday.
- CoinShares’ research division said digital asset investment products saw US$1.07 billion in outflows. The move followed that report.
- CEO Jean-Marie Mognetti is set to speak Thursday at Jefferies’ digital assets conference in New York.
CoinShares PLC shares bounced back Wednesday, recovering some ground after a steep drop. Investors looked at another round of outflows from crypto funds and the firm’s move to attract U.S. institutions following its Nasdaq debut.
The stock rose 3.3% to $5.33 on the Nasdaq in afternoon trading. Session range was $5.17 to $5.405. About 172,000 shares changed hands by late afternoon, below volumes in bigger crypto-linked stocks. Bitcoin traded close to $77,354, with ether near $2,130.
Timing is important here. CoinShares is less than two months into its U.S. listing. Its shares are getting measured against the same problem for crypto asset managers—can demand for regulated crypto products last when token prices move and risk appetite changes?
CoinShares said digital asset investment products saw US$1.07 billion in outflows last week, breaking a six-week run of inflows. James Butterfill, who leads research at CoinShares, called it the third-biggest weekly outflow for 2026 in a report out Monday. Bitcoin products lost US$982 million. Ethereum products shed US$249 million, according to the report.
Outflows are a concern for CoinShares since asset managers charge fees based on assets under management, or AUM — the money clients put into their products. Lower fund balances can cut into fee revenue, though flows in a single week usually aren’t enough to sway full-year results.
CoinShares is bringing a new IR focus this week. The company said Tuesday that CEO Jean-Marie Mognetti will appear on a panel at the Jefferies Digital Assets Investor Conference in New York on Thursday. He’s set to talk about institutionalisation in digital asset markets and related financial infrastructure.
CoinShares started trading on Nasdaq on April 1 after merging with Vine Hill Capital Investment Corp. At the time, the company reported managing over US$6 billion in 39 products. CoinShares said it is one of the top digital asset managers by crypto ETP assets, along with BlackRock, Fidelity, and Grayscale. Exchange-traded products, or ETPs, are traded securities that let investors gain exposure to assets like bitcoin without actually holding them.
CoinShares’ most recent annual numbers offer investors a starting point. The company posted 2025 revenue of $165.7 million, with segment EBITDA coming in at $131.3 million and gross assets under management running at around $7.4 billion. Segment EBITDA is profit before interest, taxes, depreciation and amortisation, adjusted for some items.
CoinShares CEO Jean-Marie Mognetti said in the May 1 results statement that the company’s yield stayed “stable at approximately 170 basis points,” even as fee pressure hit the industry. One basis point is one-hundredth of a percentage point—so 170 comes to 1.7 percentage points. Mognetti also called the Nasdaq listing on April 1 part of the plan to make CoinShares a “global asset management franchise.” GlobeNewswire
Competition is tough. BlackRock, Fidelity, and Grayscale all have scale in crypto funds, and fee pressure is rising as U.S. spot bitcoin and ether products force fees down. In its 2025 results, CoinShares said digital asset managers faced net outflows and more fee pressure, mostly in U.S. spot bitcoin and ether products.
CoinShares isn’t trying to go after every offering. Back in November, Reuters said the firm pulled plans for XRP, solana staking, and litecoin ETFs. CEO Jean-Marie Mognetti said tighter margins in single-asset crypto ETPs meant they’d need a “different playbook” to keep them sustainable. Reuters
Risks are clear. If bitcoin drops again, if fund outflows grow, or if big players cut fees faster, that could weigh on sentiment and hurt revenue hopes. CoinShares notes in its disclosures that crypto ETPs may be complex, volatile and can bring a high risk of losing capital.
