Investment management firm Wisdom Tree reported a 36% decline in earnings as its crypto holding slid to $178 million, by the end of the third quarter.
In an earnings report filed with the SEC on Oct. 28, Wisdom Tree said its total asset under management fell 4.6% to $70.9 billion, while it recorded a $1.7 billion inflow since the start of the year.
For crypto-specific assets, Wisdom Tree saw its holdings fall by 36% as it lost roughly $87 million between June and September. Its financial statement recorded $265 million in crypto assets at the end of the second quarter, which fell to about $178 million at the end of the third quarter.
On a year-to-year basis, Wisdom Tree’s crypto holdings have fallen approximately 55% from $277 million to $178 million. The declining earnings are largely due to Bitcoin’s performance, which has lost over 60% of its value over the last year.
Notwithstanding, Wisdom Tree President Jarrett Lilien remains optimistic that the investment firm will recover a
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