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WisdomTree's Q2 Average Crypto Assets Down Nearly 12% YoY to $265M

Jamie Crawley - CoinDesk
2022-07-29 12:52

Asset manager WisdomTree's (WETF) managed crypto assets worth an average $265 million in Q2, a decrease of nearly 12% compared to the equivalent figure of $300 million a year ago.

  • The figure is also a decline of 22% compared to the $324 million WisdomTree reported for Q1 2022.
  • In the three-month period, WETF's crypto assets depreciated by some $235 million. This coincided with a sharp downturn across the digital asset markets with bitcoin slumping 37.7% in June, its biggest drop since 2011.
  • Across all aspects of its business, WisdomTree managed $74.3 billion worth of assets at the end of quarter.
  • The asset manager reported quarterly net income of $8 million, a drop of nearly 55% compared to a year ago. However, it does compare favourably to the loss of $10.3 million in Q1 this year.
  • Nasdaq-listed WisdomTree provides crypto investment vehicles, most recently listing exchange-traded products (ETPs) tracking Solana's SOL, Cardano's ADA and Polkadot's DOT on major stock exchanges in Europe.
  • It is also one of the large number of firms to have its attempts to list a spot bitcoin exchange-traded fund (ETF) in the U.S. frustrated by the Securities and Exchange Commission (SEC).
  • Shares of WisdomTree were up nearly 5% at $5.55 during pre-market trading.

Read more: SEC Rejects Grayscale’s Spot Bitcoin ETF Application

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