WisdomTree's Q1 Crypto Assets Managed Increases by 23% to $324M
However, the crypto assets managed declined 20% compared to the previous quarter.
Asset manager WisdomTree (WETF) said that it managed an average of $324 million worth of crypto assets in the first quarter of 2022, an increase of nearly 23% on the equivalent figure of $264 million a year ago.
- However, the crypto assets managed in the first quarter decreased 20% compared to the average of $406 million in the previous quarter.
- WisdomTree recorded a net loss of $10.3 million across all aspects of its business for the quarter ending March 31, compared to profit of $15.1 million for the year-earlier period. The figure also compares to net profit of $11.2 million in the quarter ended Dec. 31, 2021.
- In March, WisdomTree listed exchange-traded products tracking Solana's SOL, Cardano's ADA and Polkadot's DOT on Swiss SIX stock exchange.
- The asset manager's attempts to list a spot bitcoin exchange-traded fund (ETF) in the U.S. continue to be frustrated however, with the Securities and Exchange Commission (SEC) delaying its decision on the application in March.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.