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European crypto asset manager CoinShares has published its interim Q3 financials.

The company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to £88.8 million ($120.2 million) in the period, up from £62.8 million ($85 million) in the previous quarter.

For the whole of 2020, CoinShares’ adjusted EBITDA was £22.1 million ($29.9 million). According to the filing, the Q3 results have positioned the company for its strongest-ever performance over a nine-month period.

The continuation of the firm’s positive financial performance in Q3 comes as the cryptocurrency market posted significant value recovery after a 50% decline in May.

“This performance demonstrates our business model’s resilience and ability to scale; we continue to take advantage of the evolution seen in the wider industry and translate it into total comprehensive income and balance sheet growth,” said Jean-Marie Mognetti, CoinShares’ CEO.

The firm’s performance is also indicated in the company’s earnings from management fees with £55.1 million recorded in the filing — almost three times the size of the revenue collected from fees in 2020.

Institutional inflow into crypto investment positions has been on the rise in 2021 with more big-money players allocating funds to cryptocurrency products.

CoinShares’ assets under management (AUM) also grew in Q3 with and stands at £2.9 billion ($3.9 billion) as of the period ending September 30. The company’s AUM at the end of 2020 stood at £1.7 billion ($2.3 billion).

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