CoinShares International Limited CSHR
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Full analysis: 6 Aug 2026
Latest news check: 8 Jun 2026
General analysis — not personal advice.
HOLD
6/10
Confidence
Existing exposure can be maintained pending clearer quarterly data.
Profitability and growth opportunities are balanced by dilution risk and crypto volatility supporting a neutral stance.
Market sentiment
6/10
↑
Trend: Improving
Investors highlight profitability and cash position but await clearer quarterly data after the Nasdaq listing.
Price context
The share trades 54 % below its 52-week high despite strong weekly momentum reflecting typical post-SPAC weakness rather than deteriorating fundamentals.
Risk assessment
6/10
Dilution:
Medium
F-1 registration of existing shares for resale
Jurisdiction:
Low
Jersey-based with EU and US regulation
Execution:
Medium
New US listing and competition from large players
About the company
CoinShares is a European asset manager focused on digital assets and crypto-related ETP products. The company offers funds, staking and capital markets services to institutional and private investors. Operations are profitable but closely tied to crypto market cycles.
Sector:
Digital asset management
Type:
Finance
Next report
15 Sep 2026
Interim
Catalysts
Aug 2026
H1 2026 report
Medium
Sep 2026
EGM
High
Horizon:
Bull case
Nasdaq listing and new product launches can increase visibility and inflows.
Bear case
Resale registration of existing shares and ongoing crypto volatility pose risks.
Sensitivity analysis
| Factor | If it weakens | If it strengthens |
|---|---|---|
| Bitcoin price | Lower Bitcoin price reduces AUM and management fees which weakens profitability. | Higher Bitcoin price increases AUM and revenue which strengthens cash flow and expansion capacity. |
| US ETF expansion | Weaker US inflows limit growth and margins. | Successful launch of new US ETFs increases market share and revenue. |
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Signal rationale (informational)
Profitability and growth opportunities are balanced by dilution risk and crypto volatility supporting a neutral stance.
Recent news
- The company has initiated a share buyback process and is returning to quarterly reporting to meet US investor expectations. The H1 report is expected by September 2026 at latest.
Key figures
Revenue
FY 2025
USD 166M
EBITDA
FY 2025
USD 131M
Net income
FY 2025
USD 114M
Cash
FY 2025
USD 64.2M
Total debt
FY 2025
USD 28.1M
Shares outstanding
As of Apr-30-2026
132M
EPS
FY 2025
USD 0.87
Price & valuation
Last close
USD 4.88
Market Cap
USD 643M
1 week
-0.4 %
3 months
-21.5 %
From 52w high
-58.5 %
From 52w low
+36.3 %
Exchange
NASDAQ
Type
Finance
Sector
Digital asset management
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.