Record AUM of $144.5 Billion
Diluted Earnings Per Share of $0.28 ($0.29, as Adjusted)
320 bps of Annual Operating Margin Expansion vs. the Prior Year
NEW YORK--(BUSINESS WIRE)--WisdomTree, Inc. (NYSE: WT), a global financial innovator, today reported financial results for the fourth quarter of 2025.
$40.0 million of net income ($41.2(1) million of net income, as adjusted). See “Non-GAAP” Financial Measurements” for additional information.
$144.5 billion of ending AUM, an increase of 5.3% from the prior quarter arising from market appreciation and AUM related to our acquisition of Ceres Partners, LLC (the “Ceres Acquisition”), partly offset by net outflows.
($0.3) billion of net outflows, primarily driven by outflows from our fixed income products and partly offset by inflows into our international developed equity products.
0.35% average advisory fee, unchanged from the prior quarter.
0.42% adjusted revenue yield(2), a 4 basis point increase from the prior quarter due to revenues arising from the Ceres Acquisition.
$147.4 million of operating revenues, an increase of 17.4% from the prior quarter due to revenues arising from the Ceres Acquisition, higher average AUM and higher other revenues attributable to our European listed exchange-traded products (“ETPs”).
83.2% gross margin(1), a 1 point increase from the prior quarter primarily due to an increase in revenues arising from the Ceres Acquisition.
40.5% operating income margin (41.7%(1) as adjusted), a 4.2 point increase (3.4 point increase, as adjusted) from the prior quarter primarily due to an increase in revenues arising from the Ceres Acquisition.
$0.03 quarterly dividend declared, payable on February 25, 2026 to stockholders of record as of the close of business on February 11, 2026.
Update from Jarrett Lilien, WisdomTree COO and President
“We closed 2025 with strong momentum, delivering $8.5 billion in net inflows, approximately 8% organic growth, and meaningful margin expansion. Model portfolios and SMAs continue to be a major growth engine, with model AUA surpassing $6 billion as adoption deepens across our client base. Combined with continued strength in ETFs and early traction in digital assets and private markets, we enter 2026 well positioned for sustained growth.” |
Update from Jonathan Steinberg, WisdomTree CEO
“WisdomTree is operating from a position of strength, with a diversified and scalable platform delivering growth across asset classes, geographies and channels. What were once emerging initiatives, including models, tokenized assets and private markets, are now real businesses contributing to momentum today while still early in their growth. With disciplined execution and improving guidance, we enter 2026 with conviction in the durability of our strategy and its long-term compounding potential.” |
OPERATING AND FINANCIAL HIGHLIGHTS | |||||||||||||||||||
| Three Months Ended | ||||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | |||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||
Consolidated Operating Highlights ($ in billions): |
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|
|
|
| ||||||||||||||
AUM—end of period | $ | 144.5 |
| $ | 137.2 |
| $ | 126.1 |
| $ | 115.8 |
| $ | 109.8 |
| ||||
Net (outflows)/inflows | $ | (0.3 | ) | $ | 2.2 |
| $ | 3.5 |
| $ | 3.1 |
| $ | (0.3 | ) | ||||
Average AUM | $ | 140.7 |
| $ | 130.8 |
| $ | 119.2 |
|
| $ | 114.6 |
| $ | 112.3 |
| |||
Average advisory fee |
| 0.35 | % |
| 0.35 | % |
| 0.35 | % |
| 0.35 | % |
| 0.36 | % | ||||
Adjusted revenue yield(2) |
| 0.42 | % |
| 0.38 | % |
| 0.38 | % |
|
| 0.38 | % |
| 0.39 | % | |||
|
|
|
|
|
| ||||||||||||||
Consolidated Financial Highlights ($ in millions, except per share amounts): |
|
|
|
|
| ||||||||||||||
Operating revenues | $ | 147.4 |
| $ | 125.6 |
| $ | 112.6 |
| $ | 108.1 |
| $ | 110.7 |
| ||||
Net income | $ | 40.0 |
| $ | 19.7 |
| $ | 24.8 |
| $ | 24.6 |
| $ | 27.3 |
| ||||
Diluted earnings per share | $ | 0.28 |
| $ | 0.13 |
| $ | 0.17 |
| $ | 0.17 |
| $ | 0.18 |
| ||||
Operating income margin |
| 40.5 | % |
| 36.3 | % |
| 30.8 | % |
| 31.6 | % |
| 31.7 | % | ||||
|
|
|
|
|
| ||||||||||||||
As Adjusted (Non-GAAP(1)): |
|
|
|
|
| ||||||||||||||
Operating revenues, as adjusted | $ | 147.4 |
| $ | 125.6 |
| $ | 112.6 |
| $ | 108.1 |
| $ | 110.5 |
| ||||
Gross margin |
| 83.2 | % |
| 82.2 | % |
| 81.1 | % |
| 80.8 | % |
| 79.3 | % | ||||
Net income, as adjusted | $ | 41.2 |
| $ | 34.5 |
| $ | 25.9 |
| $ | 23.0 |
| $ | 25.3 |
| ||||
Diluted earnings per share, as adjusted | $ | 0.29 |
| $ | 0.23 |
| $ | 0.18 |
| $ | 0.16 |
| $ | 0.17 |
| ||||
Operating income margin, as adjusted |
| 41.7 | % |
| 38.3 | % |
| 32.5 | % |
| 31.6 | % |
| 31.7 | % | ||||
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RECENT BUSINESS DEVELOPMENTS
Company News
Product News
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WISDOMTREE, INC. AND SUBSIDIARIES
| |||||||||||||||||||||||||||
| Three Months Ended | Years Ended | |||||||||||||||||||||||||
Dec. 31, |
| Sept. 30, |
| June 30, |
| Mar. 31, |
| Dec. 31, |
| Dec. 31, |
| Dec. 31, | |||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
Operating Revenues: |
|
|
|
|
|
|
| ||||||||||||||||||||
Advisory fees | $ | 122,712 |
| $ | 114,485 |
| $ | 103,241 |
| $ | 99,549 |
| $ | 102,264 |
| $ | 439,987 |
| $ | 395,362 |
| ||||||
Management fees |
| 4,908 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 4,908 |
|
| — |
| ||||||
Performance fees |
| 7,105 |
|
| — |
|
| — |
|
| — |
|
| — |
|
| 7,105 |
|
| — |
| ||||||
Other revenues |
| 12,709 |
|
| 11,131 |
|
| 9,380 |
|
| 8,533 |
|
| 8,433 |
|
| 41,753 |
|
| 32,375 |
| ||||||
Total revenues |
| 147,434 |
|
| 125,616 |
|
| 112,621 |
|
| 108,082 |
|
| 110,697 |
|
| 493,753 |
|
| 427,737 |
| ||||||
Operating Expenses: |
|
|
|
|
|
|
| ||||||||||||||||||||
Compensation and benefits |
| 37,273 |
|
| 33,791 |
|
| 32,827 |
|
| 33,788 |
|
| 30,032 |
|
| 137,679 |
|
| 121,281 |
| ||||||
Fund management and administration |
| 24,830 |
|
| 22,353 |
|
| 21,252 |
|
| 20,714 |
|
| 22,858 |
|
| 89,149 |
|
| 83,963 |
| ||||||
Marketing and advertising |
| 5,613 |
|
| 4,788 |
|
| 5,330 |
|
| 4,813 |
|
| 6,117 |
|
| 20,544 |
|
| 20,532 |
| ||||||
Sales and business development |
| 4,045 |
|
| 3,943 |
|
| 4,232 |
|
| 4,137 |
|
| 4,101 |
|
| 16,357 |
|
| 14,817 |
| ||||||
Professional fees |
| 3,596 |
|
| 3,505 |
|
| 3,177 |
|
| 2,782 |
|
| 4,559 |
|
| 13,060 |
|
| 21,098 |
| ||||||
Occupancy, communications and equipment |
| 1,892 |
|
| 1,601 |
|
| 1,559 |
|
| 1,482 |
|
| 1,423 |
|
| 6,534 |
|
| 5,344 |
| ||||||
Depreciation and amortization |
| 2,043 |
|
| 615 |
|
| 580 |
|
| 540 |
|
| 504 |
|
| 3,778 |
|
| 1,752 |
| ||||||
Third-party distribution fees |
| 4,772 |
|
| 3,977 |
|
| 4,083 |
|
| 3,112 |
|
| 3,161 |
|
| 15,944 |
|
| 11,138 |
| ||||||
Acquisition-related costs |
| 317 |
|
| 2,409 |
|
| 1,967 |
|
| — |
|
| — |
|
| 4,693 |
|
| — |
| ||||||
Other |
| 3,306 |
|
| 2,980 |
|
| 2,982 |
|
| 2,552 |
|
| 2,902 |
|
| 11,820 |
|
| 10,519 |
| ||||||
Total operating expenses |
| 87,687 |
|
| 79,962 |
|
| 77,989 |
|
| 73,920 |
|
| 75,657 |
|
| 319,558 |
|
| 290,444 |
| ||||||
Operating income |
| 59,747 |
|
| 45,654 |
|
| 34,632 |
|
| 34,162 |
|
| 35,040 |
|
| 174,195 |
|
| 137,293 |
| ||||||
Other Income/(Expenses): |
|
|
|
|
|
|
| ||||||||||||||||||||
Interest expense |
| (11,023 | ) |
| (8,466 | ) |
| (5,490 | ) |
| (5,441 | ) |
| (5,616 | ) |
| (30,420 | ) |
| (18,911 | ) | ||||||
Interest income |
| 2,965 |
|
| 4,015 |
|
| 2,090 |
|
| 1,897 |
|
| 2,147 |
|
| 10,967 |
|
| 6,778 |
| ||||||
Loss on extinguishment of convertible notes |
| (833 | ) |
| (13,011 | ) |
| — |
|
| — |
|
| — |
|
| (13,844 | ) |
| (30,632 | ) | ||||||
Remeasurement of contingent consideration |
| (710 | ) |
| — |
|
| — |
|
| — |
|
| — |
|
| (710 | ) |
| — |
| ||||||
Other gains and losses, net |
| 317 |
|
| 1,325 |
|
| 638 |
|
| (250 | ) |
| 2,627 |
|
| 2,030 |
|
| 874 |
| ||||||
Income before income taxes |
| 50,463 |
|
| 29,517 |
|
| 31,870 |
|
| 30,368 |
|
| 34,198 |
|
| 142,218 |
|
| 95,402 |
| ||||||
Income tax expense |
| 10,437 |
|
| 9,816 |
|
| 7,093 |
|
| 5,739 |
|
| 6,890 |
|
| 33,085 |
|
| 28,709 |
| ||||||
Net income. |
| 40,026 |
|
| 19,701 |
| $ | 24,777 |
| $ | 24,629 |
| $ | 27,308 |
| $ | 109,133 |
| $ | 66,693 |
| ||||||
Earnings per share—basic | $ | 0.29 |
| $ | 0.14(3) | $ | 0.17 |
| $ | 0.17 |
| $ | 0.19 |
| $ | 0.77(3) | $ | 0.34(3) | |||||||||
Earnings per share—diluted | $ | 0.28 |
| $ | 0.13(3) | $ | 0.17 |
| $ | 0.17 |
| $ | 0.18 |
| $ | 0.75(3) | $ | 0.33(3) | |||||||||
Weighted average common shares—basic |
| 136,340 |
|
| 139,584 |
|
| 143,076 |
|
| 142,580 |
|
| 141,275 |
|
| 140,376 |
|
| 144,630 |
| ||||||
Weighted average common shares—diluted |
| 143,314 |
|
| 150,675 |
|
| 146,640 |
|
| 146,545 |
|
| 147,612 |
|
| 144,939 |
|
| 158,844 |
| ||||||
|
|
|
|
|
|
|
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As Adjusted (Non-GAAP(1)) |
|
|
|
|
|
|
| ||||||||||||||||||||
Total revenues. | $ | 147,434 |
| $ | 125,616 |
| $ | 112,621 |
| $ | 108,082 |
| $ | 110,505 |
|
|
| ||||||||||
Total operating expenses | $ | 85,936 |
| $ | 77,553 |
| $ | 76,022 |
| $ | 73,920 |
| $ | 75,465 |
|
|
| ||||||||||
Operating income | $ | 61,498 |
| $ | 48,063 |
| $ | 36,599 |
| $ | 34,162 |
| $ | 35,040 |
|
|
| ||||||||||
Income before income taxes. | $ | 53,840 |
| $ | 45,318 |
| $ | 33,798 |
| $ | 30,947 |
| $ | 33,033 |
|
|
| ||||||||||
Income tax expense | $ | 12,605 |
| $ | 10,842 |
| $ | 7,935 |
| $ | 7,933 |
| $ | 7,753 |
|
|
| ||||||||||
Net income | $ | 41,235 |
| $ | 34,476 |
| $ | 25,863 |
| $ | 23,014 |
| $ | 25,280 |
|
|
| ||||||||||
Earnings per share—diluted | $ | 0.29 |
| $ | 0.23 |
| $ | 0.18 |
| $ | 0.16 |
| $ | 0.17 |
|
|
| ||||||||||
Weighted average common shares—diluted | 143,314 |
| 150,675 |
| 146,640 |
| 146,545 |
| 147,612 |
|
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QUARTERLY HIGHLIGHTS
Operating Revenues
- Operating revenues increased 17.4% and 33.2% from the third quarter of 2025 and fourth quarter of 2024, respectively, due to revenues arising from the Ceres Acquisition, higher average AUM and higher other revenues attributable to our European listed ETPs. The increase from the fourth quarter of 2024 was partly offset by a lower average advisory fee.
- Our average advisory fee was 0.35% during the third and fourth quarters of 2025 and 0.36% during the fourth quarter of 2024.
Operating Expenses
- Operating expenses increased 9.7% from the third quarter of 2025 primarily due to compensation expense arising from the Ceres Acquisition, fund management and administration expenses, and amortization of intangible assets arising from the Ceres Acquisition. These increases were partly offset by lower acquisition-related costs.
- Operating expenses increased 15.9% from the fourth quarter of 2024 primarily due to compensation expense arising from the Ceres Acquisition and higher headcount, fund management and administration expenses, third-party distribution fees and amortization of intangible assets arising from the Ceres Acquisition. These increases were partly offset by lower professional fees and marketing expenses.
Other Income/(Expenses)
- Interest expense increased 30.2% and 96.3% from the third quarter of 2025 and the fourth quarter of 2024, respectively, due to a higher level of debt outstanding, partly offset by a lower average interest rate.
- Interest income decreased 26.2% and increased 38.1% from the third quarter of 2025 and the fourth quarter of 2024, respectively, due to fluctuations in the level of interest-earning assets.
- Other gains and losses, net, was a gain of $0.3 million for the fourth quarter of 2025. This included net gains of $0.1 million on our investments. Gains and losses also generally arise from the sale of gold and cryptocurrency earned from advisory fees paid by our physically-backed gold and crypto ETPs, foreign exchange fluctuations and miscellaneous items.
Income Taxes
- Our effective income tax rate for the fourth quarter of 2025 was 20.7%, resulting in income tax expense of $10.4 million. The effective tax rate differs from the federal statutory rate of 21.0% primarily due to a reduction in the valuation allowance on capital losses and a lower tax rate on foreign earnings. These items were partly offset by state and local income taxes.
- Our adjusted effective income tax rate for the fourth quarter of 2025 was 23.4%(1).
ANNUAL HIGHLIGHTS
- Operating revenues increased 15.4% as compared to 2024 due to revenues arising from the Ceres Acquisition, higher average AUM and higher other revenues attributable to our European listed ETPs, partly offset by a lower average advisory fee. Other income for the prior year also included $4.3 million of other revenues related to legal and other related expenses incurred in connection with a settlement with the U.S. Securities and Exchange Commission (the “SEC”) regarding certain statements about the ESG screening process for three ETFs advised by WisdomTree Asset Management, Inc. (the “SEC ESG Settlement”) that were covered by insurance.
- Operating expenses increased 10.0% as compared to 2024 primarily due to compensation expense arising from the Ceres Acquisition and higher headcount, fund management and administration expenses, acquisition-related costs, third-party distribution fees, occupancy costs and sales and business development expenses. These increases were partly offset by lower professional fees, as the prior year included $5.0 million of expenses incurred in response to an activist campaign and $4.3 million of other revenues related to legal and other related expenses incurred in connection with the SEC ESG Settlement that were covered by insurance.
- Significant items reported in other income/(expense) in 2025 include: an increase in interest expense of 60.9% due to a higher level of debt outstanding, partly offset by a lower average interest rate; a loss on extinguishment of convertible notes of $13.8 million arising from the repurchase of $25.8 million aggregate principal amount of our 5.75% convertible senior notes due 2028; an increase in interest income of 61.8% due to an increase in our interest-earning assets; net gains on our financial instruments owned of $1.9 million and $1.2 million of foreign currency remeasurement losses on U.S. dollars held by foreign subsidiaries. Gains and losses also generally arise from the sale of gold earned on advisory fees paid by our physically-backed gold ETPs, other foreign exchange fluctuations and miscellaneous items.
- Our effective income tax rate for 2025 was 23.3%, resulting in an income tax expense of $33.1 million. Our tax rate differs from the federal statutory rate of 21.0% primarily due to a non-deductible loss on extinguishment of convertible notes and state and local income taxes. These items were partly offset by a reduction in the valuation allowance on capital losses and a lower tax rate on foreign earnings.
CONFERENCE CALL DIAL-IN AND WEBCAST DETAILS
WisdomTree will discuss its results and operational highlights during a live webcast on Friday, January 30, 2026 at 11:00 a.m. ET, which, together with all earnings materials, can be accessed via WisdomTree’s investor relations website at https://ir.wisdomtree.com. A replay of the webcast will be available shortly after the call.
Participants also can dial in using the following numbers: (877) 407-9210 or (201) 689-8049. Click here to access the participant international toll-free access numbers.
To avoid delays, we encourage participants to log in or dial into the conference call 10 minutes ahead of the scheduled start time.
About WisdomTree
WisdomTree is a global financial innovator, offering a diverse suite of exchange-traded products (ETPs), models and solutions, private market investments and digital asset-related products. Our offerings empower investors to shape their financial future and equip financial professionals to grow their businesses. Leveraging the latest financial infrastructure, we create products that emphasize access, transparency and provide an enhanced user experience. Building on our heritage of innovation, we offer next-generation digital products and services related to tokenized real world assets and stablecoins, as well as our institutional platform, WisdomTree Connect™ and blockchain-native digital wallet, WisdomTree Prime®*, and have expanded into private markets through the acquisition of Ceres Partners’ U.S. farmland platform.
* The WisdomTree Connect institutional platform and WisdomTree Prime digital wallet and digital asset services are made available through WisdomTree Digital Movement, Inc., a federally registered money services business, state-licensed money transmitter and financial technology company (NMLS ID: 2372500) or WisdomTree Digital Trust Company, LLC, in select U.S. jurisdictions and may be limited where prohibited by law. WisdomTree Digital Trust Company, LLC is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business. Visit https://wisdomtreeconnect.com, https://www.wisdomtreeprime.com or the WisdomTree Prime mobile app for more information.
WisdomTree currently has approximately $159.0 billion in assets under management globally, inclusive of assets under management related to our recently completed acquisition of Ceres Partners, LLC.
For more information about WisdomTree, WisdomTree Connect and WisdomTree Prime, visit: https://www.wisdomtree.com.
Please visit us on X at @WisdomTreeNews.
WisdomTree® is the marketing name for WisdomTree, Inc. and its subsidiaries worldwide.
PRODUCTS AND SERVICES AVAILABLE VIA WISDOMTREE CONNECT AND WISDOMTREE PRIME:
NOT FDIC INSURED | NO BANK GUARANTEE | NOT A BANK DEPOSIT | MAY LOSE VALUE | NOT SIPC PROTECTED | NOT INSURED BY ANY GOVERNMENT AGENCY
The products and services available through WisdomTree Connect and the WisdomTree Prime app are not endorsed, indemnified or guaranteed by any regulatory agency.
| __________________ | |
(1) | See “Non-GAAP Financial Measurements.” |
(2) | Adjusted revenue yield is computed by dividing our annualized adjusted operating revenues as reported in the GAAP to Non-GAAP Reconciliation herein by our average AUM during the period. |
(3) | Earnings per share (“EPS”) is calculated pursuant to the two-class method as it results in a lower EPS amount as compared to the treasury stock method. In addition, the three months ended September 30, 2025 includes $718 of stock repurchase excise taxes, which is excluded from net income, but is required to be added to net income to arrive at income available to common stockholders in the calculation of EPS. This item is excluded from our EPS when computed on a non-GAAP basis. |
WISDOMTREE, INC. AND SUBSIDIARIES
| |||||||||||||||||||
| Three Months Ended | ||||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | |||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||
GLOBAL PRODUCTS ($ in millions) |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 137,175 |
| $ | 126,070 |
| $ | 115,787 |
| $ | 109,779 |
| $ | 112,577 |
| ||||
Add: Digital Assets—Jan. 1, 2025 |
| — |
|
| — |
|
| — |
|
| 32 |
|
| — |
| ||||
Add: Assets acquired—Ceres Acquisition |
| 1,812 |
|
| — |
|
| — |
|
| — |
|
| — |
| ||||
(Outflows)/inflows |
| (283 | ) |
| 2,240 |
|
| 3,529 |
|
| 3,052 |
|
| (281 | ) | ||||
Market appreciation/(depreciation) |
| 5,820 |
|
| 8,865 |
|
| 6,754 |
|
| 2,924 |
|
| (2,517 | ) | ||||
End of period assets | $ | 144,524 |
| $ | 137,175 |
| $ | 126,070 |
| $ | 115,787 |
| $ | 109,779 |
| ||||
Average assets during the period | $ | 140,685 |
| $ | 130,760 |
| $ | 119,185 |
| $ | 114,622 |
| $ | 112,349 |
| ||||
Average ETP advisory fee during the period |
| 0.35 | % |
| 0.35 | % |
| 0.35 | % |
| 0.35 | % |
| 0.36 | % | ||||
Total revenue yield |
| 0.42 | % |
| 0.38 | % |
| 0.38 | % |
|
| 0.38 | % |
| 0.39 | % | |||
Revenue days |
| 92 |
|
| 92 |
|
| 91 |
|
| 90 |
|
| 92 |
| ||||
Number of products—end of the period |
| 406 |
|
| 397 |
|
| 383 |
| 375([1]) |
| 353 |
| ||||||
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ETPs AND TOKENIZED PRODUCTS |
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U.S. LISTED ETFs ($ in millions) |
|
|
|
|
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Beginning of period assets | $ | 88,293 |
| $ | 85,179 |
| $ | 80,531 |
| $ | 79,095 |
| $ | 81,267 |
| ||||
(Outflows)/inflows |
| (1,108 | ) |
| (445 | ) |
| 1,110 |
|
| 1,847 |
|
| (40 | ) | ||||
Market appreciation/(depreciation) |
| 1,336 |
|
| 3,559 |
|
| 3,538 |
|
| (411 | ) |
| (2,132 | ) | ||||
End of period assets | $ | 88,521 |
| $ | 88,293 |
| $ | 85,179 |
| $ | 80,531 |
| $ | 79,095 |
| ||||
Average assets during the period | $ | 88,074 |
| $ | 87,205 |
| $ | 81,525 |
| $ | 81,127 |
| $ | 80,661 |
| ||||
Number of ETFs—end of the period |
| 86 |
|
| 84 |
|
| 81 |
|
| 78 |
|
| 78 |
| ||||
|
|
|
|
|
| ||||||||||||||
EUROPEAN LISTED ETPs ($ in millions) |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 48,290 |
| $ | 40,541 |
| $ | 35,124 |
| $ | 30,684 |
| $ | 31,310 |
| ||||
Inflows/(outflows) |
| 609 |
|
| 2,447 |
|
| 2,201 |
|
| 1,104 |
|
| (241 | ) | ||||
Market appreciation/(depreciation) |
| 4,446 |
|
| 5,302 |
|
| 3,216 |
|
| 3,336 |
|
| (385 | ) | ||||
End of period assets | $ | 53,345 |
| $ | 48,290 |
| $ | 40,541 |
| $ | 35,124 |
| $ | 30,684 |
| ||||
Average assets during the period | $ | 50,102 |
| $ | 42,853 |
| $ | 37,439 |
| $ | 33,415 |
| $ | 31,688 |
| ||||
Number of ETPs—end of the period |
| 300 |
|
| 295 |
|
| 285 |
|
| 280 |
|
| 275 |
| ||||
|
|
|
|
|
| ||||||||||||||
DIGITAL ASSETS ($ in millions) |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 592 |
| $ | 350 |
| $ | 132 |
| $ | — |
| $ | — |
| ||||
Add: Digital Assets—Jan. 1, 2025 |
| — |
|
| — |
|
| — |
|
| 32 |
|
| — |
| ||||
Inflows |
| 179 |
|
| 238 |
|
| 218 |
|
| 101 |
|
| — |
| ||||
Market (depreciation)/appreciation |
| (2 | ) |
| 4 |
|
| — |
|
| (1 | ) |
| — |
| ||||
End of period assets | $ | 769 |
| $ | 592 |
| $ | 350 |
| $ | 132 |
| $ | ||||||
Average assets during the period | $ | 694 |
| $ | 702 |
| $ | 221 |
| $ | 80 |
| $ | ||||||
Number of products—end of the period |
| 19 |
|
| 18 |
|
| 17 |
|
| 17(1) | — |
| ||||||
|
|
|
|
|
| ||||||||||||||
PRIVATE ASSETS ($ in millions) |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| ||||
Add: Assets acquired—Ceres Acquisition |
| 1,812 |
|
| — |
|
| — |
|
| — |
|
| — |
| ||||
Inflows |
| 37 |
|
| — |
|
| — |
|
| — |
|
| — |
| ||||
Market appreciation |
| 40 |
|
| — |
|
| — |
|
| — |
|
| — |
| ||||
End of period assets | $ | 1,889 |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| ||||
Average assets during the period | $ | 1,815 |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| ||||
Number of products—end of the period |
| 1 |
|
| — |
|
| — |
|
| — |
|
| — |
| ||||
|
|
|
|
|
| ||||||||||||||
ETPs AND TOKENIZED PRODUCT CATEGORIES ($ in millions) |
|
|
|
|
| ||||||||||||||
U.S. Equity |
|
|
|
|
| ||||||||||||||
Beginning of period assets. | $ | 40,977 |
| $ | 38,617 |
| $ | 35,628 |
| $ | 35,414 |
| $ | 34,643 |
| ||||
Add: Digital Assets—Jan. 1, 2025. |
| — |
|
| — |
|
| — |
|
| 9 |
|
| — |
| ||||
Inflows |
| 191 |
|
| 32 |
|
| 1,284 |
|
| 962 |
|
| 1,100 |
| ||||
Market appreciation/(depreciation) |
| 260 |
|
| 2,328 |
|
| 1,705 |
|
| (757 | ) |
| (329 | ) | ||||
End of period assets | $ | 41,428 |
| $ | 40,977 |
| $ | 38,617 |
| $ | 35,628 |
| $ | 35,414 |
| ||||
Average assets during the period | $ | 41,163 |
| $ | 40,024 |
| $ | 36,080 |
| $ | 36,281 |
| $ | 35,714 |
| ||||
|
|
|
|
|
| ||||||||||||||
Commodity & Currency |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 31,705 |
| $ | 26,696 |
| $ | 25,487 |
| $ | 21,906 |
| $ | 23,034 |
| ||||
Add: Digital Assets—Jan. 1, 2025 |
| — |
|
| — |
|
| — |
|
| 1 |
|
| — |
| ||||
Inflows/(outflows) |
| 177 |
|
| 1,096 |
|
| (110 | ) |
| (159 | ) |
| (441 | ) | ||||
Market appreciation/(depreciation) |
| 5,098 |
|
| 3,913 |
|
| 1,319 |
|
| 3,739 |
|
| (687 | ) | ||||
End of period assets | $ | 36,980 |
| $ | 31,705 |
| $ | 26,696 |
| $ | 25,487 |
| $ | 21,906 |
| ||||
Average assets during the period | $ | 33,824 |
| $ | 28,162 |
| $ | 25,888 |
| $ | 23,993 |
| $ | 22,989 |
| ||||
|
|
|
|
|
| ||||||||||||||
International Developed Market Equity |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 23,893 |
| $ | 21,725 |
| $ | 18,178 |
| $ | 17,602 |
| $ | 18,075 |
| ||||
Inflows |
| 1,146 |
|
| 477 |
|
| 1,649 |
|
| 474 |
|
| 63 |
| ||||
Market appreciation/(depreciation) |
| 577 |
|
| 1,691 |
|
| 1,898 |
|
| 102 |
|
| (536 | ) | ||||
End of period assets | $ | 25,616 |
| $ | 23,893 |
| $ | 21,725 |
| $ | 18,178 |
| $ | 17,602 |
| ||||
Average assets during the period | $ | 24,708 |
| $ | 22,481 |
| $ | 19,577 |
| $ | 18,275 |
| $ | 17,716 |
| ||||
|
|
|
|
|
| ||||||||||||||
Fixed Income |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 22,509 |
| $ | 22,543 |
| $ | 22,230 |
| $ | 20,043 |
| $ | 20,767 |
| ||||
Add: Digital Assets—Jan. 1, 2025 |
| — |
|
| — |
|
| — |
|
| 21 |
|
| — |
| ||||
(Outflows)/inflows |
| (1,355 | ) |
| (58 | ) |
| 148 |
|
| 2,093 |
|
| (387 | ) | ||||
Market (depreciation)/appreciation |
| (80 | ) |
| 24 |
|
| 165 |
|
| 73 |
|
| (337 | ) | ||||
End of period assets | $ | 21,074 |
| $ | 22,509 |
| $ | 22,543 |
| $ | 22,230 |
| $ | 20,043 |
| ||||
Average assets during the period | $ | 21,422 |
| $ | 23,128 |
| $ | 22,526 |
| $ | 21,464 |
| $ | 20,398 |
| ||||
|
|
|
|
|
| ||||||||||||||
Emerging Market Equity |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 10,855 |
| $ | 10,957 |
| $ | 9,985 |
| $ | 10,468 |
| $ | 12,452 |
| ||||
(Outflows)/inflows |
| (508 | ) |
| (250 | ) |
| 28 |
|
| (445 | ) |
| (908 | ) | ||||
Market appreciation/(depreciation) |
| 296 |
|
| 148 |
|
| 944 |
|
| (38 | ) |
| (1,076 | ) | ||||
End of period assets | $ | 10,643 |
| $ | 10,855 |
| $ | 10,957 |
| $ | 9,985 |
| $ | 10,468 |
| ||||
Average assets during the period | $ | 10,839 |
| $ | 10,874 |
| $ | 10,295 |
| $ | 10,072 |
| $ | 11,407 |
| ||||
|
|
|
|
|
| ||||||||||||||
Leveraged & Inverse |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 2,913 |
| $ | 2,631 |
| $ | 2,133 |
| $ | 1,924 |
| $ | 2,082 |
| ||||
(Outflows)/inflows |
| (15 | ) |
| (52 | ) |
| 141 |
|
| 116 |
|
| (69 | ) | ||||
Market appreciation/(depreciation) |
| 377 |
|
| 334 |
|
| 357 |
|
| 93 |
|
| (89 | ) | ||||
End of period assets | $ | 3,275 |
| $ | 2,913 |
| $ | 2,631 |
| $ | 2,133 |
| $ | 1,924 |
| ||||
Average assets during the period | $ | 3,097 |
| $ | 2,750 |
| $ | 2,354 |
| $ | 2,083 |
| $ | 2,032 |
| ||||
|
|
|
|
|
| ||||||||||||||
Cryptocurrency |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 3,168 |
| $ | 2,087 |
| $ | 1,553 |
| $ | 1,912 |
| $ | 1,054 |
| ||||
Add: Digital Assets—Jan. 1, 2025 |
| — |
|
| — |
|
| — |
|
| 1 |
|
| — |
| ||||
(Outflows)/inflows |
| (117 | ) |
| 764 |
|
| 198 |
|
| (89 | ) |
| 315 |
| ||||
Market (depreciation)/appreciation |
| (809 | ) |
| 317 |
|
| 336 |
|
| (271 | ) |
| 543 |
| ||||
End of period assets | $ | 2,242 |
| $ | 3,168 |
| $ | 2,087 |
| $ | 1,553 |
| $ | 1,912 |
| ||||
Average assets during the period | $ | 2,550 |
| $ | 2,412 |
| $ | 1,800 |
| $ | 1,900 |
| $ | 1,599 |
| ||||
|
|
|
|
|
| ||||||||||||||
Alternatives |
|
|
|
|
| ||||||||||||||
Beginning of period assets | $ | 1,155 |
| $ | 814 |
| $ | 593 |
| $ | 510 |
| $ | 470 |
| ||||
Inflows |
| 161 |
|
| 231 |
|
| 191 |
|
| 100 |
|
| 46 |
| ||||
Market appreciation/(depreciation) |
| 61 |
|
| 110 |
|
| 30 |
|
| (17 | ) |
| (6 | ) | ||||
End of period assets | $ | 1,377 |
| $ | 1,155 |
| $ | 814 |
| $ | 593 |
| $ | 510 |
| ||||
Average assets during the period | $ | 1,267 |
| $ | 929 |
| $ | 665 |
| $ | 554 |
| $ | 494 |
| ||||
|
|
|
|
|
| ||||||||||||||
Headcount |
| 360 |
|
| 338 |
|
| 321 |
|
| 315 |
|
| 313 |
| ||||
Contacts
Investor Relations
Jeremy Campbell
+1.917.267.3859
jeremy.campbell@wisdomtree.com
Media Relations
Jessica Zaloom
+1.917.267.3735
jzaloom@wisdomtree.com
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