Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Categorization of Assets and Liabilities Measured at Fair Value

The tables below summarize the categorization of the Company’s assets and liabilities measured at fair value. During the three and six months ended June 30, 2023 and 2022, there were no transfers between Levels 2 and 3.

	June 30, 2023
	Total		Level 1		Level 2		Level 3
Assets:
Recurring fair value measurements:
Cash equivalents	$	195	$	195	$	—	$	—
Financial instruments owned, at fair value:
ETFs		26,509		26,509		—		—
Pass-through GSEs		26,107		—		26,107		—
Other assets—seed capital (WisdomTree Digital Funds):
U.S. treasuries		4,794		4,794		—		—
Equities		5,514		5,514		—		—
Fixed income		1,908		—		1,908		—
Other		660		—		660		—
Investments in Convertible Notes (Note 7):
Securrency, Inc.—convertible note		13,836		—		—		13,836
Securrency, Inc.—secured convertible note		8,887		—		—		8,887
Fnality International Limited—convertible note		7,879		—		—		7,879
Total	$	96,289	$	37,012	$	28,675	$	30,602

	June 30, 2023
	Total		Level 1		Level 2		Level 3
Non-recurring fair value measurements:
Securrency, Inc.—Series A convertible preferred stock (1)	$	3,588	$	—	$	—	$	3,588

(1)  Fair value determined on March 31, 2023.

	December 31, 2022
	Total		Level 1		Level 2		Level 3
Assets:
Recurring fair value measurements:
Cash equivalents	$	930	$	930	$	—	$	—
Financial instruments owned, at fair value
ETFs		23,772		23,772		—		—
U.S. treasuries		2,980		2,980		—		—
Pass-through GSEs		96,837		23,290		73,547		—
Corporate bonds		885		—		885		—
Other assets—seed capital (WisdomTree Digital Funds)		1,765		—		1,765		—
Investments in Convertible Notes (Note 7)
Securrency, Inc.—convertible note		14,500		—		—		14,500
Fnality International Limited—convertible note		6,921		—		—		6,921
Total	$	148,590	$	50,972	$	76,197	$	21,421
Non-recurring fair value measurements:
Other investments(1)	$	312	$	—	$	—	$	312
Liabilities:
Recurring fair value measurements:
Deferred consideration—gold payments (Note 9)	$	200,290	$	—	$	—	$	200,290

(1)  Fair value determined on May 10, 2022.

Summary of Reconciliation of Recurring Fair Value Measurements

Fair Value Measurements classified as Level 3 – The following table presents a reconciliation of beginning and ending balances of recurring fair value measurements classified as Level 3:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Investments in Convertible Notes (Note 7)
Beginning balance	$	17,502	$	6,700	$	21,421	$	—
Purchases		10,000		5,000		10,000		11,863
Net unrealized gains/(losses)(1)		3,100		12		(819)		(151)
Ending balance	$	30,602	$	11,712	$	30,602	$	11,712
Deferred Consideration (Note 9)
Beginning balance	$	179,831	$	245,177	$	200,290	$	228,062
Net realized losses(2)		1,583		4,446		6,069		8,896
Net unrealized (gains)/losses(3)		(41,361)		(2,311)		(61,953)		14,707
Settlements		(140,053)		(4,545)		(144,406)		(8,898)
Ending balance	$	—	$	242,767	$	—	$	242,767

(1)  Recorded in other gains and losses, net in the Consolidated Statements of Operations.

(2)  Recorded as contractual gold payments expense in the Consolidated Statements of Operations.

(3) Recorded as gain/(loss) on revaluation/termination of deferred consideration—gold payments in the Consolidated Statements of Operations.