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Crypto Robo-Adviser Hedgehog Launches as App With Gemini as Custodian

CoindeskCoindesk2023/06/21 12:00
By:Helene Braun

Parent company Hedgehog Technologies raised $1.6 million in August 2021 to build the platform.

Close-up photo of a hedgehog in a field or garden.

Hedgehog, a that provides automated financial guidance for cryptocurrency investors, has launched as an app on both the iOS and Android systems, the company said Wednesday.

The app allows investors to manage crypto portfolios and provides advice on when to rebalance their holdings or rearrange their investments. It offers six so-called stacks, or diversified portfolios of related cryptocurrencies, that users can invest in similar to an index fund or exchange-traded funds.

However, while investors in an index fund own shares in the fund, Hedgehog users own the assets in their stacks directly. Their funds will be held on crypto exchange Gemini, which is the integrated custodian for the app. Self-custody support could become available down the line, the company said.

The six stacks are Total Crypto, Satoshi, DeFi, ETH Network, Layer One and Yield Farming.

Hedgehog Technologies, the parent company of Hedgehog Advisers, from companies incling Y Combinator and Dragonfly Capital to build the platform in 2021. The platform is registered with the U.S. Securities and Exchange Commission (SEC), which requires users to go through an identification, or know-your-customer (KYC), process.

Edited by Sheldon Reback.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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