v3.25.4
Note 14 - Investments in Financial Assets
12 Months Ended
Dec. 31, 2025
Statement Line Items [Line Items]  
Disclosure of financial assets [text block]

14  Investments in financial assets

 

The table below presents the fair value of Investments in financial assets by investment type (in thousands):

 

  

December 31,

  

December 31,

 
  

2025

  

2024

 

BTC funds

 $186,067  $35,365 

Grayscale CoinDesk Crypto 5 ETF

  93,184    

CoinDesk 20

  87,802   40,598 

Other digital assets funds

  12,408   10,110 

Other Investments in financial assets

  24,683   100 

Total Investments in financial assets

 $404,144  $86,173 

 

As of December 31, 2025 and 2024, the Group held digital assets exchange-traded funds and private funds valued at $379.4 million and $86.1 million, respectively,  as well as equity investments valued at $24.7 million and $0.1 million, respectively. 

 

When the Group disposes of Investments in financial assets, a realized gain or loss is calculated as the proceeds received from the sale of the investment less the investment's original cost. The realized gains and losses are recorded on a gross basis. These amounts are presented within Change in fair value of investment in financial assets.

 

For the year ended December 31, 2025 and 2024, the Group recognized realized gains on disposition of investments in financial assets of $23.2 million and $0 million, respectively. Realized losses for the same periods totaled $20.6 million and $0 million, respectively.