As a result of the protracted bear market in Bitcoin (BTC) and other cryptocurrencies, the value of the digital asset assets managed by WisdomTree, a fund management company based in the United States, fell by a significant amount during the fourth quarter.
The cryptocurrency funds managed by WisdomTree had a total asset value of $136 million as of the end of the year 2022, which was down from $163 million at the beginning of the quarter and represented a depreciation of $23 million, the company disclosed in its quarterly earnings report on February 3, 2023. During the period under review, there was a total of just $4 million worth of redemptions or outflows from the funds. In the previous year, the cryptocurrency portfolios managed by WisdomTree contained a total value of assets equal to $357 million.
Although the fund manager’s operational revenues grew to $73.31 million in the fourth quarter, the manager reported a net loss of…
