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WisdomTree's Q1 Crypto Assets Managed Increases by 23% to $324M
However, the crypto assets managed declined 20% compared to the previous quarter.
Updated May 11, 2023, 6:50 p.m. Published Apr 29, 2022, 12:58 p.m.
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.
Read more: Grayscale Eyeing Expansion Into European Crypto Fund Market: Report
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