Tip of the day… Best way to diversify your wealth
Have you been looking for a low-risk way to diversify your wealth portfolio? Then drop everything you’re doing right now and take a look at Stocks Profit. Stocks Profit is an award-winning algorithmic trader that helps you build more wealth by owning shares in the top-performing companies in the world. With it, you can gain unprecedented financial freedom by using its near-perfect trade suggestions to bet on stocks, oil, and other lucrative commodities. The stock market has been around for ages, but rare is the right tool to access it. Register for free to learn how Stocks Profit can help you make multimillion through passive investing.
WisdomTree, the New York-based asset manager that operates blockchain-enabled funds, reported that the value of its cryptocurrency holdings fell to $136 million at the end of the fourth quarter from $357 million at the end of the same quarter last year.
The company saw a net loss of $28.3 million in the period, compared to a profit of $11.2 million in the same period last year. Operating revenue declined to $73.3 million from $79.2 million in the previous fourth quarter.
Shares of the company were down 2% as of 10:47 am ET.
WisdomTree’s digital asset strategy is centered around both bringing crypto into the mainstream and traditional assets into the digital ecosystem through tokens and funds, it said in the results presentation. It highlighted its new digital wallet WisdomTree Prime, which will allow users to spend, transfer and invest digital assets. There is currently a waitlist to try the product.
WisdomTree saw net inflows of $5.3 billion “primarily driven by inflows into fixed income, U.S. equity and commodity products.” Net flows specifically from crypto totaled $4 million.
“Driven by over $12 billion of net inflows in 2022, WisdomTree exited the year with record assets under management.,” COO and President Jarett Lilien said.