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DeFi Technologies is making waves with a 38% jump in assets under management (AUM) during a booming crypto market, according to Jason Shubnell from The Block. The company announced third-quarter revenues of C$24.2 million. Their adjusted earnings per share hit C$0.07, beating estimates by a cent. As of November 13, their AUM reached C$1.1 billion, showing significant growth after the quarter ended.

This Canada-based fintech, trading under the ticker DEFTF, released its earnings on Thursday. One analyst sees a bright future ahead. Benchmark analyst Mark Palmer pointed out, “The tailwinds supporting DEFI’s growth became meaningfully stronger after the end of the quarter. The outcome of the U.S. elections sent the prices of bitcoin and several other tokens to all-time highs.”

Palmer emphasized that the excitement in the crypto sector has greatly influenced DeFi's performance. The AUM rose nearly 38% after the third quarter. The company provided a revenue forecast of C$198.6 million for the full year 2025. This suggests they expect to generate C$46.2 million in the fourth quarter, which is significantly higher than Benchmark's estimate of C$26.7 million.

For the third quarter, DeFi Technologies reported total revenues of C$24.2 million. Their crypto arbitrage trading desk, DeFi Alpha, generated C$20.6 million in revenue, exceeding the estimate of C$16 million. However, this amount is down from the previous quarter’s C$111.5 million. Palmer noted, “It was nevertheless an impressive demonstration of the strategy’s capabilities.” He added that DeFi Alpha has not recorded any losses since its launch in early April and has been exploring a wider range of arbitrage opportunities this quarter.

Before releasing their earnings, DeFi Technologies announced plans for CoreFi Strategy. This public company will provide investors access to Core, a leading blockchain for bitcoin staking and decentralized finance (BTCfi). Inspired by MicroStrategy, CoreFi Strategy will focus on accumulating and dual-staking Core tokens and bitcoin in its corporate treasury. They will also use various financing strategies to boost their treasury holdings.

Palmer explained, “Core has positioned itself as the most bitcoin-aligned blockchain. It offers investors the chance to earn yield on their bitcoin holdings through non-custodial staking. This includes dual-staking integration, allowing investors who stake both bitcoin and Core tokens to earn even higher yields.”

Additionally, DEFI’s Valour subsidiary launched the first yield-bearing bitcoin exchange-traded product (ETP) earlier this year. This product uses Core’s bitcoin staking to give investors exposure to bitcoin price appreciation, along with a yield of 5.65%. Palmer maintained an “overweight” rating on the stock and raised his price target to C$5.