WisdomTree CEO says crypto is now a core business, nearing profitability
WisdomTree’s Crypto Bet Pays Off: From $30M to $750M in One Year
At the Ondo Summit in New York, WisdomTree CEO Jonathan Steinberg dropped a bombshell that’s sending shockwaves through both traditional finance and crypto circles: his firm’s crypto business has evolved from experimental side project to core profit center, with assets under management exploding from $30 million to $750 million in just one year.
“We’re not playing around anymore,” Steinberg declared during the fireside chat. “This isn’t an experiment—we have conviction. Eventually, everything will go on chain.”
The numbers tell a compelling story. WisdomTree, already a heavyweight with $150 billion in traditional assets under management, has been quietly building what could become its most disruptive division yet. The firm’s tokenized assets grew an eye-popping 25x in 2024 alone, reaching $770 million by year-end.
But what’s really turning heads is WisdomTree’s aggressive expansion strategy. The firm recently launched onto the Solana blockchain, joining Ethereum in its multi-chain approach. This isn’t just about chasing trends—it’s about building the rails for the future of finance.
“We want to continue to scale,” Steinberg emphasized. “We’re in line of sight of taking this to a profitable business.”
The firm’s strategy goes beyond simple token offerings. WisdomTree has been investing heavily in blockchain infrastructure, launching tokenized funds that can move across self-custodied wallets and institutional platforms through its WisdomTree Connect system. It’s a bold move that positions the firm at the intersection of traditional finance and decentralized technology.
Perhaps most intriguingly, WisdomTree made a strategic play in the compliance space by acquiring Securrency, a tokenization company focused on regulatory compliance. While the firm later sold Securrency to the DTCC, the move appears to have been a calculated step in building “compliance-aware tokens” and programmable finance capabilities.
For Steinberg, this isn’t just about asset management—it’s about reimagining financial services entirely. “Financial services—some of these banks go back a couple of centuries. They built on legacy, on top of legacy, on top of legacy. There is that modernization that has to happen.”
The implications are massive. Traditional asset managers have largely watched from the sidelines as crypto evolved from niche experiment to trillion-dollar market. WisdomTree is now positioning itself as the bridge between these two worlds, potentially capturing value as trillions of dollars in traditional assets migrate to blockchain infrastructure.
Industry analysts are taking notice. The firm’s aggressive expansion comes as other traditional finance giants remain hesitant, creating what could become a significant first-mover advantage. With regulatory clarity improving and institutional appetite growing, WisdomTree’s bet on crypto infrastructure could pay dividends for years to come.
As Steinberg put it simply: “We just want to continue to scale what we’re doing.”
The message is clear: WisdomTree isn’t just participating in the crypto revolution—they’re helping to build it. And if their trajectory continues, they might just become the blueprint for how traditional finance successfully embraces the blockchain future.
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