SEC-Registered Crypto Robo-Advisor Makara Launches

Makara bills itself the first SEC-registered crypto robo-advisor.

Jun 1, 2021 at 3:04 p.m. UTC
Updated Sep 14, 2021 at 1:04 p.m. UTC

Makara, a crypto robo-advisor registered with the U.S. Securities and Exchange Commission (SEC), has launched to its 20,000-strong waitlist.

  • The app is the first SEC-registered crypto robo-advisor, according to an announcement by Makara Tuesday.
  • Makara said it has "millions of dollars" in assets under management (AUM) through beta clients who are being onboarded.
  • Traditional robo-advisors such as Wealthfront and Betterment largely invest clients' money in exchange-traded funds (ETFs).
  • "Obviously there aren't any crypto ETFs in the U.S. right now," Makara CEO Jesse Proudman said. "And, if there were, investors would only be able to move in and out during traditional market hours. Not only that, but they wouldn't actually be holding these assets directly."
  • The app will offer six "thematic baskets" of assets built around different investment appetites that clients may have.
  • The baskets include ones specifically weighted to bitcoin, ethereum and decentralized finance (DeFi).
  • Makara is partnering with Gemini to handle the buying, selling and storing of the underlying assets.
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