Makara, a crypto robo-advisor registered with the U.S. Securities and Exchange Commission (SEC), has launched to its 20,000-strong waitlist.
- 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.
- Makara is partnering with Gemini to handle the buying, selling and storing of the underlying assets.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.