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Fair Value Measurements (Tables) | 6 Months Ended
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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 Operati on s.

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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