Digital asset investment firm CoinShares reported record results in its Q1 earnings on Tuesday — a quarter in which it acquired Valkyrie’s exchange-traded fund business.

CoinShares saw a 216% year-over-year increase in Q1 revenue, gains and other income totaling £43.9 million ($55 million), compared to £13.9 million ($17.4 million) during the same period last year.

Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA — a popular measure of a company's financial performance — was £34.2 million ($42.9 million), up more than fourfold compared to Q1 2023.

The firm’s total comprehensive income — all earnings and losses, including those not from usual business activities — reached …