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Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Goodwill | The table below sets forth goodwill which is tested annually for impairment on November 30 th :
|  | Total |
Balance at January 1, 2023 |  | $ | 85,856 |
Changes |  |  | 985 (1) |
Balance at June 30, 2023 |  | $ | 86,841 |
(1) On April 11, 2023, the Company acquired 100% of the equity interests of Securrency Transfers, Inc. (renamed WisdomTree Transfers, Inc.) for an aggregate purchase price of $985 (net of cash acquired). The acquisition has been accounted for under the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations, and resulted in all consideration being allocated to goodwill.
Summary of Intangible Assets | The table below sets forth the Company’s intangible assets which are tested annually for impairment on November 30 th :
|  | Balance at June 30, 2023 |
Item |  | Gross Asset |  |  | Accumulated Amortization |  |  | Net Asset |
ETFS acquisition |  |  | $ 601,247 |  |  |  | $ — |  |  |  | $ 601,247 |
Software development |  |  | 3,316 |  |  |  | (156) |  |  |  | 3,160 |
Balance at June 30, 2023 |  |  | $ 604,563 |  |  |  | $ (156) |  |  |  | $ 604,407 |
|  | Balance at December 31, 2022 |
Item |  | Gross Asset |  |  | Accumulated Amortization |  |  | Net Asset |
ETFS acquisition |  |  | $ 601,247 |  |  |  | $ — |  |  |  | $ 601,247 |
Software development |  |  | 2,370 |  |  |  | (50) |  |  |  | 2,320 |
Balance at December 31, 2022 |  |  | $ 603,617 |  |  |  | $ (50) |  |  |  | $ 603,567 |
Summary of Unamortized Finite-lived Intangible Assets | As of June 30, 2023, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows:
Remainder of 2023 |  |  | $ 544 |
2024 |  |  | 1,087 |
2025 |  |  | 1,056 |
2026 |  |  | 454 |
2027 |  |  | 19 |
2028 and thereafter |  |  | — |
Total expected amortization expense |  |  | $ 3,160 |

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