Graham Tuckwell calls for review of WisdomTree’s ‘poorly managed’ ETF biz

ETFS Capital Chairman Graham Tuckwell, who sold the European arm of ETFS to WisdomTree in 2018 and has since become the firm’s most critical shareholder, continued to hammer WisdomTree in a recent letter to fellow shareholders, this time with specific criticisms aimed at the firm’s neglect of what he considers to be its core offering, ETFs, in favor of a decentralized finance (DeFi) expansion.

Tuckwell also promised to withhold ETFS voting power until a ‘strategic review process’ is initiated – and he asked other shareholders to do the same.

‘For many years now, WisdomTree has embarked on an ill-advised strategy of trying to transform the Company from an ETF business to a DeFi business, which has resulted in the core ETF business being poorly managed and all of its DeFi efforts ending in failure,’ Tuckwell wrote.