While WisdomTree Investments (NASDAQ:WETF) turned in stronger-than-expected third-quarter revenue Friday, the asset manager and exchange-traded fund operator saw its cryptocurrency assets under management plunge from a year ago, coinciding with the recent market slump. Q3 adjusted EPS of $0.06 matched the average analyst estimate, sliding from $0.07 in Q2 and from $0.10 at Sep. 30, 2021. Revenue of $72.4M, meanwhile, topped the consensus of $69.9M, falling from $77.3M in the prior quarter and $78.1M a year before. Crypto AUM ended Q3 at $163M vs. $151M in Q2 and $295M in Q3 2021, accounting for a small portion of the company's total AUM. That 45% Y/Y drop coincided with the huge drawdowns seen in digital tokens like bitcoin (BTC-USD) and ethereum (ETH-USD), both of which remain around 70% below their November 2021 peaks. Nevertheless, WisdomTree (WETF) doesn't appear concerned as it focuses on bringing blockchain technology to the traditional investment world. "Our approach is to bring crypto mainstream and to bring mainstream exposures, like fixed income, equities and commodities, into the digital world through blockchain-enabled funds and tokenized exposures," said Jarrett Lilien, WisdomTree's president and chief operating officer.The New York-based firm has $70.9B in total AUM at the end of Q3, down from $74.3B at June 30 and $72.8B in the year-ago quarter amid a broader downturn in risk assets. Seeking Alpha warned investo...
XRP Price Prediction For 24 November
