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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets | 22. Goodwill and Intangible Assets Goodwill The table below sets forth goodwill which is tested annually for impairment on November 30th:
|  | Total
Balance at January 1, 2023 |  | $ | 85,856 |
Changes |  |  | 985 | (1)
Balance at September 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. Of the total goodwill of $86,841 at September 30, 2023, $85,042 is not deductible for tax purposes as the acquisitions that gave rise to the goodwill were structured as stock acquisitions. The remainder of the goodwill is deductible for U.S. tax purposes. Intangible Assets The table below sets forth the Company’s intangible assets which are tested annually for impairment on November 30th:
|  | Balance at September 30, 2023
Item |  | Gross Asset |  | Accumulated Amortization |  | Net Asset
ETFS acquisition |  | $ | 601,247 |  |  | $ | — |  |  | $ | 601,247 |
Software development |  |  | 3,939 |  |  |  | (405 | ) |  |  | 3,534 |
Balance at September 30, 2023 |  | $ | 605,186 |  |  | $ | (405 | ) |  | $ | 604,781 |
|  | 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 |
ETFS Acquisition (Indefinite-Lived) In connection with the ETFS Acquisition, which was completed on April 11, 2018, the Company identified intangible assets valued at $601,247 related to the right to manage AUM through customary advisory agreements. These intangible assets were determined to have indefinite useful lives and are not deductible for tax purposes. Software Development (Finite-Lived) Internally-developed software is amortized over a useful life of three years. During the three and nine months ended September 30, 2023, the Company recognized amortization expense on internally-developed software of $249 and $355, respectively. As of September 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 |  | $ | 300 |
2024 |  |  | 1,265 |
2025 |  |  | 1,262 |
2026 |  |  | 656 |
2027 |  |  | 51 |
2028 and thereafter |  |  | — |
Total expected amortization expense |  | $ | 3,534 |
The weighted-average remaining useful life of the finite-lived intangible assets is 2.7 years.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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