WisdomTree Average Crypto Assets Drop 12% In One Year

The WisdomTree average crypto managed assets drop by 12% in one year and the figure marks a decline of 22% compared to the $324 million in the first quarter of the year so let’s read more today in our cryptocurrency news.

Asset manager WisdomTree average crytpo assets managed are now worth an average of $265 million in the second quarter of the year, marking a 12% drop compared to the figure of $300 million a year ago. The figure saw a decline of 22% compared to the $324 million reported in the first quarter while in the three-month period, WETF crytpo assets dropped by $235 million which coincided with a sharp drop acorss the markets when BTC crashed by 37% in June, marking its biggest drop since 2011.

WisdomTree managed $74.3 billion worth of assets at the end of the quarter and it reported a net income of $8 million or a drop of 55% compared to a year ago. It does however compare favorably to the loss of $10.3 million in the first quarter of the year. WisdomTree provides crypto investment vehicles and recently listed exchange-traded products tacking Solana and Cardano’s ADA on stock exchanges in Europe. It is also one of a large number of companies to have attempted a listing of a spot BTC ETF in the US via the US Securities and Exchange Commission. The shares of WisdomTree were up by 5% in pre-market trading.

As recently reported, The American ETF provider WisdomTree expanded its crypto products by launching three new crypto exchange-traded products backed by Cardano, Polkadot, and Solana. WisdomTree announced the launch of the three ETPs including WisdomTree Solana, WisdomTree Cardano, and WisdomTree Polkadot. The ETPs are listed on major EU digital exchanges like Deutsche Boerse’s Xetra, the Swiss SIX Exchange as well as the Swiss Stock Exchange. The Euronext exchange is expected to list the ETPs in Paris and Amsterdam as well.

The ETPs are designed to offer investors in the EU another option and gain exposure to the price of Solana, Polkadot, and Cardano via regulated exchanges. The three products have a total expense ratio of 0.95% and are available for sale in Belgium, Denmark, Austria, Finland, France, Italy, Germany, Luxembourg, Ireland, Netherlands, Poland, Spain, Norway, Sweden, and Switzerland. The new ETPs follow the growing crypto asset products offered by WisdomTree in Europe and joined products like Wisdomtree Crypto Mega Cap Equal weight which is backed by physical assets like ETH and BTC.