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CoinShares: Publicly Traded Crypto Companies Scale to $100B Valuation This Year

UTC by Steve Muchoki · 3 min read
CoinShares: Publicly Traded Crypto Companies Scale to $100B Valuation This Year
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Over the same period, CoinShares asserted that the number of publicly-traded crypto firms has increased by 28% to 57 companies.

A new report by CoinShares, a globally recognized brokerage firm focused on crypto assets indicates that the total market cap of public stocks has quadrupled since the beginning of the year. Reportedly, the firm noted that publicly traded crypto companies were worth approximately $25 billion as of January 2021, but have since scaled to hit $100 billion.

Over the same period, CoinShares asserted that the number of publicly-traded crypto firms has increased by 28% to 57 companies. Notably, the report noted that this year experienced the highest proliferation of crypto firms to publicly traded companies led by Coinbase Global Inc (NASDAQ: COIN).

Coinbase currently accounts for half of the publicly traded crypto firms with a market cap of approximately $54 billion according to MarketWatch. COIN shares have added approximately 13.8% in the past three months and traded around $271, up 2% during today’s premarket.

As the total crypto market cap revisits its all-time high reached the beginning of the year, more institutional investors are optimistic of a higher bull market by the end of the year and subsequent years.

CoinShares Report and the Crypto Market

According to the report, a total of 15 publicly traded crypto-asset exchanges represent a total of 62% of the combined market capitalization. They are then followed by 19 publicly traded crypto financial services firms that account for $20 billion. The list is then closed by 20 publicly traded crypto mining firms with approximately $10 billion.

The report went further to analyze and found out that publicly traded crypto mining firms recorded the highest gains of 121% year-to-date. They are then closely followed by publicly traded crypto financial services firms with gains of approximately 105%. And publicly traded crypto exchanges closed the list with gains of approximately 34% year-to-date.

Ahead, the number of crypto-related firms that are seeking to enter the public space is expected to significantly increase by the year 2025. Mind you, the largest crypto exchange by daily traded volume globally Binance has asserted it will go public. Binance CEO CZ announced yesterday that its United States subsidiary will go public in three years.

Crypto mining companies are expected to further explore the public capital through listings in different parts of the world. Moreover, institutional investors have shown great interest in the crypto mining business. In addition, as more blockchains move towards the proof of stake concept, more money is expected to flow towards that sector in the coming years.

Crypto mining firms like Riot Blockchain Inc (NASDAQ: RIOT) have seen an increase of more than 1000% in the past year.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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