<SEC-DOCUMENT>0000921895-23-000886.txt : 20230412
<SEC-HEADER>0000921895-23-000886.hdr.sgml : 20230412
<ACCEPTANCE-DATETIME>20230412171510
ACCESSION NUMBER:		0000921895-23-000886
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230412
DATE AS OF CHANGE:		20230412

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WisdomTree, Inc.
		CENTRAL INDEX KEY:			0000880631
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				133487784
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10932
		FILM NUMBER:		23816440

	BUSINESS ADDRESS:	
		STREET 1:		250 WEST 34TH STREET
		STREET 2:		3RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119
		BUSINESS PHONE:		212-801-2080

	MAIL ADDRESS:	
		STREET 1:		250 WEST 34TH STREET
		STREET 2:		3RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WisdomTree Investments, Inc.
		DATE OF NAME CHANGE:	20090401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDEX DEVELOPMENT PARTNERS INC
		DATE OF NAME CHANGE:	20020812

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FINANCIAL DATA SYSTEMS
		DATE OF NAME CHANGE:	19951120

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ETFS Capital Limited.
		CENTRAL INDEX KEY:			0001520619
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		Ordnance House
		STREET 2:		31 Pier Road
		CITY:			St. Helier, Channel Islands
		STATE:			Y9
		ZIP:			JE4 8PW
		BUSINESS PHONE:		44-153--482-5500

	MAIL ADDRESS:	
		STREET 1:		Ordnance House
		STREET 2:		31 Pier Road
		CITY:			St. Helier, Channel Islands
		STATE:			Y9
		ZIP:			JE4 8PW

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ETF Securities Ltd
		DATE OF NAME CHANGE:	20110512
</SEC-HEADER>
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    <TD STYLE="width: 100%; text-align: center; vertical-align: top; border-bottom: Black 0.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">WISDOMTREE, INC.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">GRAHAM TUCKWELL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">BRUCE AUST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">TONIA PANKOPF</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">ETFS Capital Limited, together
with the other participants named herein (collectively, &ldquo;ETFS Capital&rdquo;), intends to file a preliminary proxy statement and
accompanying <B>GOLD</B> proxy card with the Securities and Exchange Commission to be used to solicit votes for the election of its slate
of highly-qualified director nominees at the 2023 annual meeting of stockholders of WisdomTree, Inc., a Delaware corporation (the &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Item 1: On April 12, 2023,
ETFS Capital issued the following press release and public letter to the board of directors of the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>ETFS CAPITAL NOMINATES THREE HIGHLY QUALIFIED
CANDIDATES TO<BR>
WISDOMTREE, INC. BOARD OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><I>ETFS Capital Believes Further Board Change
is Now Needed, as the Board Additions Initiated by Us Last Year Have Not Been Enough to Trigger the Actions We Believe are Urgently Required
to Address the Dismal Performance of the Company</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><I>Over the Last Five Years, Operating Income
has declined by 2%, Even Though Assets Under Management have Increased by More Than 50%<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>
Helped by the Market-Wide Trend of Investors Continuing to Move from Active Funds to ETFs</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><I>Over this Same Period WisdomTree&rsquo;s
Total Stockholder Return has Significantly Unperformed Benchmark Indices</I></B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><I>ETFS Capital Believes its Nominees - Bruce
E. Aust, Tonia Pankopf and Graham Tuckwell - Can Bring Much-Needed Governance, Capital Allocation, and Stockholder Perspective to the
Board and Help Get the Company Back on Track</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><I>As the Largest Shareholder, with an 18%
Economic Interest ($183m<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT>), the Interests
of ETFS Capital are Clearly Aligned with all WisdomTree Stockholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">NEW YORK, NY &ndash; April 12, 2023 /[Globe
Newswire]/ &ndash; ETFS Capital Limited (&ldquo;ETFS Capital&rdquo;), the largest combined owner of common stock, $0.01 par value (the
 &ldquo;Common Stock&rdquo;), and Series A Non-Voting Convertible Preferred Stock (the &ldquo;Series A Preferred Stock&rdquo;) of WisdomTree,
Inc. (&ldquo;WisdomTree&rdquo; or the &ldquo;Company&rdquo;) (NYSE: WT), with aggregate ownership of approximately 10.2% of the outstanding
Common Stock, which together with its Series A Preferred Stock would represent approximately 18.3% of the Company&rsquo;s outstanding
Common Stock on an as-converted basis, announced today its nomination of three highly qualified individuals for election to the Board
of Directors of WisdomTree (the &ldquo;Board&rdquo;) at the Company&rsquo;s 2023 annual meeting of stockholders and issued an open letter
to the Board.</P>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 5pc; margin-top: 12pt">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT> Source: WisdomTree 2018 Annual Report &amp; WisdomTree 2022 Annual Report.</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><SUP>2</SUP></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Source: Bloomberg. Relevant indices include, Russell 2000 Index, S&amp;P Composite 1500 Asset Management &amp; Custody Banks Index and Blackrock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP>3</SUP></FONT> Source: Bloomberg based on an April 11, 2023 closing price of $6.10 per share.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">The full text of the letter follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">April 12, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Dear Board Members,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As you are well aware, ETFS Capital Limited
(&ldquo;ETFS Capital&rdquo;) is the largest shareholder in the Company, when combining our Common Stock and Series A Preferred Stock,
which on a combined and as-converted basis represent approximately 18.3% of the Company&rsquo;s outstanding shares - $183m<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>4</SUP></FONT>
of our own capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Despite ETFS Capital being the Company&rsquo;s
largest shareholder, the board of directors (the &ldquo;Board&rdquo;) has repeatedly refused to engage with us in any meaningful way since
May 25, 2022. On August 16 and November 1, 2022, at our urging, we gave detailed presentations with the sole purpose of assisting the
Board, in improving WisdomTree&rsquo;s operations and strategic decision-making. Despite repeated requests on our part thereafter, you
have given no feedback on these presentations, nor have we seen evidence of any material changes being implemented in the areas of concern
we raised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Instead, your apparent reaction has been to
reinstate the Stockholder Rights Plan (Poison Pill) and to further enhance the already generous Executive Severance Plan. We consider
these to be the actions of a board who is afraid to be held to account by its stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">When we sold our leading European ETC business
to the Company in 2018, we took the majority of the consideration in stock, indicating our belief in the Company and expecting the stock
price to increase solidly as a result of enhanced earnings per share that our business delivered to WisdomTree and the tailwinds from
investors continuing to move from actively managed funds to exchange-traded funds. WisdomTree recognized the value of the ETC business
as highlighted in the following statements by your CEO:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&ldquo;<I>The acquisition will immediately
add scale, diversification and profitability to our business in Europe, the second largest ETF market in the world and a growing and strategically
important region for us and the entire industry. The addition of this complementary and competitively positioned commodity business is
an important development in WisdomTree&rsquo;s strategy to establish itself as a differentiated and diversified ETP provider that can
thrive globally and generate long-term shareholder value</I>.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>5</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">When WisdomTree acquired this leading business
on April 12, 2018, its stock price closed at $9.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>6</SUP></FONT>
Since then, we believe a lack of focus on the core business, poor capital allocation decisions, failure to manage operating expenses,
and undue emphasis on the misguided WT Prime initiative has led to the consequential destruction of stockholder value that has been seen.
As of March 17, 2023, the day WisdomTree adopted its latest Poison Pill, its share price had declined to $5.62 &ndash; down 38% since
April 12, 2018.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>7</SUP></FONT> It is clear, in our view,
that the Board has failed to provide the necessary management oversight resulting in massive stockholder value destruction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">More specifically, since the acquisition of
the ETFS ETC business on April 12, 2018, the Company&rsquo;s Total Stockholder Return has been <B><I>negative 34%</I></B> compared to
+21% for the Russell 2000 Index, +23% for the S&amp;P Composite 1500 Asset Management &amp; Custody Banks Index and +51% for Blackrock,
the market leader in the ETF space.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>8</SUP></FONT></P>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 5pc; margin-top: 12pt">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP>4</SUP></FONT> <I>Id.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP>5</SUP></FONT> Source: WisdomTree Press Release November 13, 2017, available at https://www.wisdomtree.eu/en-gb/press-room/tabs/latest-news/wisdomtree-to-acquire-etf-securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP>6</SUP></FONT> Source: Bloomberg.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP>7</SUP></FONT> Source: Bloomberg.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><SUP>8</SUP></FONT> Source: Bloomberg. Total Shareholder Return calculated from the date of closing of the sale of the ETC business on April 12, 2018 to the issuance of the Board&rsquo;s Year-End Letter to Stockholders on December 21, 2022, reaffirming support for the management strategy.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Even more disappointing is the apparent extreme
underperformance at an operating level. Since 2018, Operating Income has decreased by 2% and revenue has increased by just 10%, despite
AUM, driven by the market-wide trend of investors moving from active funds to ETFs, increasing by 52%.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>9</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We believe that WisdomTree needs a new plan,
with improved execution and greatly enhanced Board oversight. Specifically, we believe WisdomTree needs to focus on achieving operational
efficiency and on its core ETF business, and re-evaluate all capital allocation decisions including WT Prime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">ETFS Capital has significant experience in
these areas with a long, successful track record of driving operational, financial, strategic, and governance changes that benefit employees,
customers, and stockholders. ETFS Capital, led by Graham Tuckwell, is one of the oldest and most successful independent ETF operators
globally, having created over $1 billion of enterprise value since its launch by operating ETF issuance businesses and allocating capital
to businesses in the ETF ecosphere and Digital Assets space.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We firmly believe that with the right Board
in place, WisdomTree can be a best-in-class company in its industry and generate significant value for all stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Last year we were successful in initiating
these much-needed changes through the addition of two highly qualified new directors with extensive ETF industry experience to the Board
- Deborah Fuhr and Lynn Blake. We intend to support these directors again at the Company&rsquo;s 2023 annual meeting of stockholders (the
 &ldquo;2023 Annual Meeting&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition, our efforts were instrumental
in getting the Company to begin a phased de-classification of the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">However, in our view these changes clearly
have not been enough and have been undermined by long-tenured incumbent directors maintaining all the key board positions &ndash; specifically,
Frank Salerno (Chairman of the Board and Chair, Compensation Committee), Win Neuger (Chair, Nominating and Governance Committee), and
Anthony Bossone (Chair, Audit Committee).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">It is clear to us that the Board needs further
change (but not by way of individuals cherry-picked by the long-tenured directors) to trigger the actions urgently required to address
the dismal performance of the Company. We recently sought to engage with the Board in a constructive dialogue on this matter to reach
a mutually agreeable resolution to avoid a proxy contest for 2023, but you have repeatedly refused to have any meaningful dialogue or
make any offer or proposal that might assist in reaching any form of settlement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For those reasons, in order to preserve our
rights ahead of the 2023 Annual Meeting and as further described in our formal notice of nomination delivered to the Company today, we
are nominating three highly-qualified director candidates &ndash; Bruce E. Aust, Tonia Pankopf, and Graham Tuckwell &ndash; for election
at the 2023 Annual Meeting. We strongly believe that these individuals, if elected, would bring much-needed governance, capital allocation
and operational expertise, as well as a stockholder perspective to WisdomTree&rsquo;s boardroom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Despite the Company&rsquo;s inaction in recent
weeks, we remain open to reaching a mutually agreeable solution. We have acted in good faith to try to assist the Board in addressing
the poor performance of the Company and, as the largest stockholder, we firmly believe our interests are aligned with those of all WisdomTree
stockholders.</P>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 5pc; margin-top: 12pt">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><SUP>9</SUP></FONT> Source: WisdomTree 2018 Annual Report &amp; WisdomTree 2022 Annual Report.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Yours truly,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Graham Tuckwell<BR>
Executive Chairman<BR>
ETFS Capital Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Our Nominees:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Bruce E. Aust</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Aust currently serves as a strategic advisor
to the Anthemis Group, a venture capital firm, since February 2021, and a strategic advisor to 150Bond, an advisory firm to C-level executives,
since March 2020. Previously, Mr. Aust served in various executive roles at Nasdaq, Inc., a global technology company serving the capital
markets and other industries, including serving as Vice Chairman from 2015 to December 2019 and as Executive Vice President of Global
Listings from 2003 to 2014. Earlier in his career, Mr. Aust served in several roles within the retail brokerage unit of Fidelity Investments,
a multinational financial services corporation, including as Vice President. Mr. Aust currently serves as a member of the board of directors
of Anthemis Digital Acquisitions I Corp., a publicly traded special purpose acquisition corporation, since January 2022, and as Chairman
of the board of directors of AEGIS Swap Execution Facility, LLC, a marketplace for commodities brokers, financial counterparties and commercial
end-users to negotiate and execute swaps, since September 2021. Mr. Aust also serves as a member of the Advisory Board of Ridgeway Partners,
LLC, a global advisory firm specializing in executive search, board appointments and succession planning, since April 2021. He previously
served as President of the Nasdaq Entrepreneurial Center, a non-profit organization designed to engage emerging entrepreneurs. Mr. Aust
earned a B.S. in Business Administration from the University of Southern Mississippi.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Tonia Pankopf. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ms. Pankopf currently serves as Managing Partner
of Pareto Advisors, LLC, an investment, financial and strategic advisory firm, since 2005. Ms. Pankopf also currently serves on the board
of directors as a member of the Valuation, Audit and Nominating and Corporate Governance Committees, of 180 Degree Capital Corp., a registered
closed-end investment management company, since August 2020. Previously, Ms. Pankopf served on the board of directors, as well as serving
as Audit Chair and as a member of the Nominating and Corporate Governance and CEO Search Committees, of Landec Corporation (n/k/a Lifecore
Biomedical, Inc.), a fully integrated contract development and manufacturing organization in the pharmaceutical industry, from November
2012 to November 2022. From 2003 to 2017, Ms. Pankopf served on the board of directors of Oxford Square Capital Corporation (formerly
TICC Capital Corporation), a registered closed-end investment management company. Earlier in her career, Ms. Pankopf held Vice President
and Senior Equity Analyst positions at Goldman Sachs &amp; Co., a global investment bank, and Merrill Lynch &amp; Co., a global investment
bank. Ms. Pankopf&rsquo;s experience also includes hedge fund portfolio management at P.A.W. Capital Partners, an investment advisory
firm, and Palladio Capital Management, an investment advisory firm. Ms. Pankopf previously served on the Board of the University System
of Maryland Foundation, from 2006 to 2012. Ms. Pankopf is a Governance Fellow and member of the National Association of Corporate Directors.
She is also a qualified financial expert. Ms. Pankopf received a Bachelor of Arts summa cum laude from the University of Maryland and
a Master of Science degree from the London School of Economics.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Graham Tuckwell AO</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Tuckwell is the Founder and Executive Chairman
of ETFS Capital Limited (f/k/a ETF Securities Limited), a strategic investment company focused on growth opportunities across the ETF
ecosystem. Mr. Tuckwell founded ETF Securities Limited in 2004 and it became one of the leading issuers of Exchange Traded Products in
Europe. In 2018 the European and US businesses were sold but the Australian business was retained, and under his guidance, as Executive
Chairman of ETF Securities Australia, assets under management increased by more than 400%. Mr. Tuckwell is credited with creating the
world&rsquo;s first gold ETF when he launched GOLD on the Australian Stock Exchange in 2003. Later that year, he launched a similar product,
GBS, on the London Stock Exchange in partnership with the World Gold Council. Prior to working in the ETF industry, Mr. Tuckwell worked
in corporate advisory and investment banking for 20 years in Australia and London, and before then, he worked as an economist in the Department
of Prime Minister and Cabinet in Canberra. He holds a Bachelor of Economics (Honours) degree and a Bachelor of Laws degree from the Australian
National University. In 2015 he was awarded an honorary Doctorate degree from the Australia National University, in 2016 he received the
ETF.com Lifetime Achievement Award for Europe, and in the 2022 Australia Day Honours List he was appointed an Officer of the Order of
Australia for &ldquo;distinguished service to the community through philanthropic support of educational scholarships, and to business.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>About ETFS Capital Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">ETFS Capital is a London-based strategic investment
company focused on growth opportunities across the ETF ecosystem. As part of its investment process, ETFS Capital receives and analyses
many dozens of business ideas and proposals within the ETF ecosphere each year and conducts in-depth technical and commercial due diligence
on the companies where it chooses to deploy capital. Thereafter it engages in a hands-on approach, as a partner to management teams and
Boards bringing its unparalleled industry-specific expertise for the benefit of those companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>CERTAIN INFORMATION CONCERNING THE PARTICIPANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">ETFS Capital Limited, a Jersey company (&ldquo;ETFS
Capital&rdquo;), together with the other participants in its anticipated solicitation (collectively, &ldquo;ETFS&rdquo;), intends to file
a preliminary proxy statement and accompanying <B>GOLD</B> proxy card with the Securities and Exchange Commission (&ldquo;SEC&rdquo;)
to be used to solicit votes in connection with the 2023 annual meeting of stockholders of WisdomTree, Inc., a Delaware corporation (the
 &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">ETFS STRONGLY ADVISES ALL STOCKHOLDERS OF THE
COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS
PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD
BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The participants in the proxy solicitation
are anticipated to be ETFS Capital, Bruce E. Aust, Tonia Pankopf and Graham Tuckwell AO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of the date hereof, ETFS Capital beneficially
owns directly 15,250,000 shares of Common Stock, $0.01 par value per share (the &ldquo;Common Stock&rdquo;) and 14,750 shares of Series
A Non-Voting Convertible Preferred Stock, par value $0.01 (the &ldquo;Series A Preferred Stock&rdquo;). Mr. Tuckwell, as the Executive
Chairman and controlling shareholder of ETFS Capital, may be deemed to beneficially own the 15,250,000 shares of Common Stock directly
owned by ETFS Capital and the 14,750 shares of Series A Preferred Stock directly owned by ETFS Capital. As of the date hereof, Mr. Aust
and Ms. Pankopf do not beneficially own any securities of the Company.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><U>Investor Contacts:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>ETFS Capital:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Martyn James, +44 (0) 207-509-0674<BR>
<U>info@etfscapital.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Item 2: On April 12, 2023, a representative
of ETFS Capital Limited, Martyn James, was quoted in the following article published by etf.com:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>ETFS Capital Nominates 3 Candidates to WisdomTree
Board</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><B>The largest shareholder cited the need to
improve &lsquo;dismal performance.&rsquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">WisdomTree Investment Inc.&rsquo;s largest shareholder
has nominated a trio of candidates to the exchange-traded fund issuer&rsquo;s board of directors as part of an effort to reverse what
it calls &ldquo;dismal performance.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">U.K.-based investing firm ETFS Capital, owner
of a slate of ETF industry-related companies, nominated Tonia Pankopf, managing partner of New York investing firm Pareto Advisors, and
Bruce Aust, strategic advisor to New York-based Anthemis Group and former Nasdaq vice chairman, according to a letter issued Wednesday
to the WisdomTree board. ETFS Capital Chairman Graham Tuckwell was also nominated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">ETFS Capital, etf.com&rsquo;s parent company,
has seen the value of its stake in New York-based WisdomTree shrink since April 2018, when it sold a business to the company and took
most of the payment in stock. WisdomTree&rsquo;s shares have declined about 34% over that period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&ldquo;It is clear to us that further change
to the WisdomTree Board is urgently required to trigger the actions needed to get the company back on track,&rdquo; ETFS Capital&rsquo;s
Managing Director Martyn James said. &ldquo;We believe that the election of our slate of exceptionally qualified nominees is the change
needed to trigger those actions.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">WisdomTree has issued 80 ETFs in the U.S., with
assets under management of $61.2 billion, according to etf.com data. Its shares gained 2.1% by midday to $6.23.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">ETFS Capital&mdash;which has also invested in
the trade publication ETF Stream and crypto exchange-traded product issuer 21Shares among its portfolio of companies&mdash;said in a statement
that it owns 10.2% of WisdomTree&rsquo;s outstanding shares. That total climbs to 18.3% when combined with its series A preferred stock,
it said.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The company has been lobbying for change at
WisdomTree over the past few years, and last year successfully pushed to have Deborah Fuhr and Lynn Blake elected to the board of directors.
ETFS Capital said it was &ldquo;instrumental&rdquo; in getting WisdomTree to begin a phased declassification of its board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&ldquo;The Board has failed to provide the necessary
management oversight resulting in massive stockholder value destruction,&rdquo; ETFS Capital wrote in the letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The letter to WisdomTree also took aim at what
it called &ldquo;long-tenured incumbent directors&rdquo;&mdash;board chairman Frank Salerno, Win Neuger and Anthony Bossone.&nbsp;</P>

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