New York — WisdomTree’s crypto business is no longer an experiment but a core part of the company’s strategy and on the verge of becoming profitable, CEO Jonathan Steinberg said Tuesday during a fireside chat at the Ondo Summit in New York.
“We want to continue to evolve,” Steinberg said. “Last year, we went from about $30 million in assets to about $750 million in assets,” adding that the company is not currently making money from its digital asset efforts, but is “on track to turn that into a profitable business.”
The company, with $150 billion in assets under management, has invested heavily in blockchain infrastructure, launching tokenized funds and expanding to new chains like Solana. . Steinberg said the effort was driven by a long-term conviction. “It’s still early, but it’s not an experiment at the moment. We’re convinced of that. So we think that one day everything will come together.”
It’s not hard to see why WisdomTree is going further with digital assets. Most recently, during its earnings presentation, the company said its total WisdomTree tokenized assets reached $770 million, 25 times more than in 2024.
WisdomTree took an aggressive lead among traditional asset managers in the digital assets space early on, launching a suite of tokenized funds and recently expanding distribution through WisdomTree Connect, which allows these assets to move between self-managed wallets and institutional platforms.
The company also made a strategic bet on blockchain infrastructure by acquiring Securrency, a compliance-focused tokenization company, which it later sold to DTCC. Steinberg said the move was a fundamental step in enabling “compliance-aware tokens” and programmable finance, helping WisdomTree build a long-term interoperable digital asset strategy.
For Steinberg, crypto represents more than a product opportunity: it is a new financial infrastructure. “Really, it goes beyond asset management. It’s really about financial services,” he said. “Financial services – some of these banks have been around a few centuries ago. So they’ve built on their heritage, on their legacy, on their legacy. There’s this modernization that needs to happen.”
As for WisdomTree’s ambitions? “We just want to continue to expand what we’re doing,” Steinberg said.
