CoinShares H1 2026: Net Loss of $23.9M, Material Weaknesses, AUM Down 25%
CSHR sits 57% above its 52-week low of $3.505.
Summary
CoinShares reported a $23.9M H1 2026 net loss, disclosed material weaknesses in financial reporting controls, and showed AUM down 25% to $5.52B — though net inflows remained positive and AUM has since recovered to $6.93B.
Key Events · Earnings and Guidance · CSHR
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H1 2026 Net Loss of $23.9M
Revenue fell 35.7% to $51.4M, and the company swung from a $77.6M profit in H1 2025 to a $23.9M net loss, driven by lower AUM, a $16.6M XBT Pricing Differential loss, and a $15.4M unrealized loss on treasury digital assets.
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Material Weaknesses in ICFR
Management concluded that disclosure controls and internal control over financial reporting were ineffective as of June 30, 2026, citing deficiencies in reconciliation reviews, completeness of liabilities and digital assets, and IT general controls.
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AUM Down 25% to $5.52B
Total AUM fell from $7.40B at year-end 2025 to $5.52B at June 30, 2026, driven by adverse digital asset price movements rather than net redemptions — the Group generated $27.6M of net inflows during the period.
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Post-Period AUM Recovery to $6.93B
As of August 31, 2026, AUM had recovered to approximately $6.93B, and the year-to-date unrealized loss on treasury digital assets had narrowed from $15.4M to $3.56M.
Analysis · CSHR · Crypto Assets
A sharp decline in digital asset prices pushed CoinShares to a $23.9 million net loss in H1 2026, reversing the $77.6 million profit recorded a year earlier, while AUM fell 25% to $5.52 billion. The disclosure of material weaknesses in internal control over financial reporting adds a governance red flag that warrants close attention. Positive net inflows of $27.6 million and a post-period AUM recovery to $6.93 billion indicate the core franchise remains resilient, but the control deficiencies and the scale of the earnings swing make this a significant disclosure.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 35.8% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CSHR was trading at $5.52 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $706.3M. The 52-week trading range was $3.51 to $13.70. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.