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 with 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 the quarter.
- The asset manager reported quarterly net income of $8 million, a drop of nearly 55% compared with a year ago. However, it does compare favorably to the loss of $10.3 million in Q1 this year.
- 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.
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