How Many People Work At CoinShares 2025: Inside the Team Count & Growth

The question of “how many people work at CoinShares” points us toward a dynamic and evolving workforce within digital asset management. This article tracks key metrics, employee counts, regional distribution, and departmental breakdown to surface insights into the CoinShares team. These statistics matter not just for internal benchmarking, but for investors comparing headcount trends across crypto firms and for regulators assessing capacity in compliance. Let’s dig into where CoinShares stands today (and used to), then move into deeper analysis.

How Many People Work At CoinShares?

• CoinShares is reported to have around 91 employees according to FT.com profile data.
• Growjo lists 128 employees, with growth of ~19% year-over-year.
• The firm opened a central U.S. (New York City) office in late 2024 to support U.S. expansion.
• CoinShares is planning a U.S. listing via a $1.2  billion business combination.
• Its global AuM recently hit ~$10  billion, having more than tripled over past 2 years.
• In Q1 2024, combined revenues, gains, and income surged +216% YoY to £43.9 million.
• They currently list a company size on LinkedIn of 51–200 employees.

Recent Developments

• In October 2024, CoinShares announced the opening of a U.S. central office in New York City, tied to its acquisition of Valkyrie Funds LLC.
• As part of the U.S. move, roles in sales, marketing, operations, and compliance were actively recruited.
• In September 2025, CoinShares and Vine Hill Capital announced a $1.2  billion business combination to list CoinShares in the U.S. markets.
• That business combination is intended to support its U.S. growth plans and expand investor access.
• CoinShares claims over a 34% market share in European crypto ETPs as of this announcement.
• The firm has more than tripled AuM in the last two years, attributed to new product launches and investor inflows.
• Adjusted EBITDA margins were ~68% in CY 2024, and ~76% in 1H 2025.
• In 2025 Q2, the company posted net profit of $32.4 m and EPS (basic) of $0.49.

CoinShares’ Current Team (Key People)

• Jean-Marie Mognetti serves as the CEO and Co-founder of CoinShares. A former quantitative trader, Mognetti leads strategy, corporate development, and global operations.
• Daniel Masters, also a Co-founder, previously served as Chairman. A former JPMorgan commodities trader, Masters helped transition CoinShares into a regulated digital asset manager.
• Richard Nash, CoinShares’ General Counsel, leads legal, regulatory, and governance matters, especially critical during the U.S. expansion and planned Nasdaq listing.
• Grahame McPherson holds the role of Chief Operating Officer, responsible for infrastructure, operational oversight, and cross-departmental process alignment.
• Frank Spiteri, who previously led sales and product development, played a central role in expanding the firm’s ETP product suite and market footprint across Europe.
• Russell Newton, another Co-founder, has served in various roles focusing on algorithmic strategies and technology development.
• Benoît Rivière is listed as Head of Trading, overseeing CoinShares’ capital markets activities and execution strategies.
• The Board of Directors includes professionals with deep backgrounds in finance, law, and digital innovation, offering governance oversight for its growing global operations.
• Post-acquisition of Valkyrie, several former Valkyrie team members are expected to integrate into CoinShares’ U.S. division, particularly in ETF management and distribution.
• The leadership structure reflects a balance between traditional finance expertise and blockchain-native innovation, aligning with its dual mission of regulatory rigor and asset digitization.

CoinShares Revenue & EBITDA Trends

• In Q1 2024, CoinShares posted $35.6 million in total revenue and $30.6 million in adjusted EBITDA.
• In Q2 2024, revenue surged to approximately $70 million, the highest in the chart, while adjusted EBITDA climbed to $34.0 million.
• Q3 2024 saw revenue drop to around $39 million, with adjusted EBITDA falling to $20.4 million.
• In Q4 2024, total revenue rebounded to roughly $43 million, and adjusted EBITDA improved to $29.8 million.
• Q1 2025 recorded $39.3 million in total revenue and $24.0 million in adjusted EBITDA.
• In Q2 2025, revenue remained stable at about $39 million, while adjusted EBITDA increased slightly to $26.3 million.

Workforce Growth Over Time

• As of the end of 2021, CoinShares listed 80 employees in its public profile.
• In more recent assessments, FT.com reflects ~91 employees for the firm.
• Owler also reports roughly 91 employees.
• Growjo claims 128 employees, implying a growth of ~19% in the prior year.
• LinkedIn’s stated company size is 51–200, which is consistent with that range.
• If 128 is accurate in 2025, that reflects growth of ~41 employees from 2021’s 80, a ~51% increase over 4 years.
• That equates to ~10–15% average annual compound growth in headcount.
• The discrepancy between sources (91 vs 128) may reflect differences in counting full-time, contractors, or regional affiliates.

Recent Hiring Trends and Job Openings

• On LinkedIn, CoinShares recently posted roles including UX / Front-end Developer and Golang / C++ Developer positions.
• On Glassdoor, there are currently two posted roles globally, including a Development Lead – Trading Systems in London.
• The “Jobs at CoinShares” listing on CryptocurrencyJobs.com currently shows no active openings, indicating selectivity or lower hiring at this moment.
• In France specifically, CoinShares France lists open roles in AI / ML, blockchain, and finance, particularly in the Paris office.
• According to Welcome to the Jungle, the firm experienced –13% employee growth over the past 12 months.
• The absence of wide hiring listings may suggest a shift toward internal promotions or cautious expansion amid market volatility.
• The hiring emphasis on engineering roles (UX, back-end, trading systems) hints at continued investment in infrastructure and product development.
• The selective nature of currently open roles indicates a targeted recruiting strategy rather than broad scaling.

CoinShares Asset Flows and AUM Breakdown

• Bitcoin saw weekly outflows of $719 million, yet led in YTD inflows with $23.98 billion and total AUM of $170.75 billion.
• Ethereum recorded $409.4 million in weekly outflows but maintained $12.17 billion in YTD inflows and $34.67 billion in AUM.
• Multi-asset products had $83.5 million in outflows for the week and $118.7 million MTD, with YTD flows close to neutral at -$2 million.
• Solana attracted $291 million in weekly inflows and $628.1 million MTD, pushing its YTD total to $1.87 billion and AUM to $3.65 billion.
• XRP saw weekly inflows of $93.1 million, adding to $210.8 million MTD and $1.61 billion YTD, with $2.72 billion in AUM.
• Sui gained $2.9 million in weekly inflows and $135 million YTD, with $301 million under management.
• Litecoin experienced a minor weekly outflow of $0.2 million, with $5 million YTD inflows and $231 million in AUM.
• Cardano posted $1.3 million in weekly inflows and a YTD total of $46 million, with AUM of $167 million.
• Chainlink showed a slight weekly outflow of $0.7 million, but still held $37 million in YTD flows and $122 million in AUM.
• Cronos had negligible weekly movement but maintained $63 million YTD and $112 million in AUM.
• Other assets contributed $12 million in weekly inflows but had -$347 million YTD and $728 million in AUM.
• Overall, CoinShares recorded total weekly outflows of $812 million, but a strong YTD net inflow of $39.57 billion, with total AUM at $220.87 billion.

Comparison With Other Digital Asset Companies

• CoinShares International reportedly generates the highest revenue per employee in Europe, estimated at $28,222,222 per employee.
• In 2021, CoinShares had 80 employees, and the estimated revenue per employee in SEK terms was 12.24 M SEK.
• Among its peers, firms like Grayscale, Galaxy Digital, and Bitwise typically operate with hundreds to low thousands of employees.
• Owler reports that CoinShares’s four-quarter revenue has declined ~37.4%, putting pressure on margin comparisons with more diversified peers.
• Compared to exchange-native firms like Coinbase or Binance, CoinShares has a leaner headcount.
• As a digital asset manager rather than an exchange operator, CoinShares competes more closely with firms like 21Shares or VanEck.
• Its combination of high revenue-per-employee and tight staffing gives it operational leverage not always seen in broader crypto firms.

Company Structure and Business Segments

• CoinShares segments its business into Asset Management, Capital Markets, and Treasury / Investments.
• In 2024, Asset Management earned £87.2 million.
• Capital Markets posted £57.0 million.
• Treasury showed a £17.7 million loss.
• Core revenues come from management fees and capital market gains.
• The structure balances stable, recurring income with trading flexibility.
• Post-U.S. merger, the company will operate under Odysseus Holdings.
• The reporting structure shows a preference for financial transparency and segment clarity.

Employee Incentive Plans

• In March 2025, CoinShares announced that 75,000 options from its Employee Incentive Plan were exercised at a strike price of GBP 1.43 per share.
• Those exercised options brought in GBP 107,250 to the company in aggregate.
• Post‑exercise, the total number of shares in issue became 66,678,210, and CoinShares holds 447,759 of its own shares as treasury stock.

• Option tranches from 2020 still being exercised suggest a long vesting horizon and continued alignment of long-term incentives.
• The exercise of options signals that the company expects its share value to appreciate, encouraging employees to retain positions through vesting periods.
• Incentive plans are likely tied to performance, such as AUM growth, profitability, or EBITDA targets.
• Equity-based incentive programs can materially impact compensation structure, especially in smaller firms.
• The upcoming U.S. listing may make these equity packages more liquid and attractive.

Diversity and Inclusion Statistics

• Public data on CoinShares’ diversity metrics is not readily available.
• Glassdoor reviews show eight diversity mentions, mostly discussing culture.
• Job postings in France highlight roles in AI / ML, blockchain, and finance, suggesting potential for diverse talent pipelines.
• CoinShares is presented as a 21–100 employee company on some job platforms.
• No specific gender, ethnicity, or pay equity statistics have been disclosed.
• As CoinShares expands into the U.S., regulatory pressure may lead to increased D&I reporting.
• Many peer firms now report gender balance, leadership diversity, and pay gap metrics annually.
• There is an opportunity for CoinShares to improve D&I transparency in future annual reports.

Revenue Per Employee

• CoinShares ranks #1 in Europe for revenue per employee, at $28,222,222.
• Historical estimates place revenue per employee around 12.24 million SEK.
• In 2024, CoinShares reported £126.5 million in total revenue, gains, and other income.
• In Q1 2024, the group recorded £43.9 million in combined revenue and gains.
• In Q1 2025, Asset Management revenue was $29.6 million, and Capital Markets income was £11.9 million.
• With an employee count of ~100 to 128, the implied revenue per employee is extremely high.
• The metric reflects the high-margin nature of digital asset fund management and lean staffing.
• Few crypto companies achieve similar per-employee metrics due to broader operations and larger support teams.

Profits Per Employee

• In Q1 2025, CoinShares reported $24 million net profit, down ~42.2% YoY.
• In Q2 2025, the company posted $32.4 million in net profit.
• Adjusted EBITDA in Q2 2025 was $26.3 million.

• Profit per employee historically reported as 12.17 million SEK.
• Implied profit per employee ranges from $200,000 to $300,000+, depending on headcount.
• Profit-per-employee fluctuates more than revenue due to market and trading volatility.
• Strong metrics reflect the firm’s focus on high-yield services and limited employee scaling.

Expansion and Acquisitions Impact on Workforce

• The acquisition of Valkyrie integrated a U.S.-based ETF unit into CoinShares.
• New York became a central U.S. office supporting operations and sales.
• U.S. listing is part of a strategic workforce and client expansion.
• The firm now operates in Jersey, UK, France, Sweden, Switzerland, and the U.S..
• No current changes to employment terms were announced during the acquisition.
• Future hiring is likely in regulatory, ETF servicing, and distribution roles.
• Integration periods may slow new hiring temporarily.
• Workforce strategy will balance in-house builds with strategic hiring.

Industry Rankings

• CoinShares ranks among the top four digital asset ETP providers globally.
• In EMEA, it holds ~34% market share, the top spot.
• Assets under management stand at ~$10 billion.
• AuM tripled over two years, averaging >50% compound annual growth.
• Valuation at listing: 7.3× EV/EBITDA, 10.7× P/E.
• Peer firms average ~20× P/E, indicating upside potential.
• EBITDA margins are ~76% (H1 2025), among the highest in the sector.
• Q2 2025 profit was $32.4 million, with $30 million from Asset Management.

Frequently Asked Questions (FAQs)

Conclusion

Putting together all available data, CoinShares’ workforce remains lean but strategically structured, with key growth expected in U.S. operations, compliance, and engineering teams. Its business model yields exceptionally high revenue and profit-per-employee, and its leadership in ETP markets underscores strong operating leverage. The upcoming listing on Nasdaq via a business combination further cements a trajectory of scale, global reach, and evolving responsibilities for its team.

While public disclosure gaps persist, especially in diversity, departmental headcount, and compliance staffing, the transparent reporting and high-efficiency metrics offer valuable benchmarks. As CoinShares continues its U.S. expansion and structural evolution under Odysseus Holdings, workforce growth and role reshaping will be critical to observe.