Hedgehog, a robo-adviser that provides automated financial guidance for cryptocurrency investors, has launched an app on both iOS and Android systems, the company announced Wednesday. The app allows users to manage crypto portfolios and provides advice on when to rebalance their holdings or rearrange investments. It offers six stacks, or diversified portfolios of related cryptocurrencies, that users can invest in similar to an index fund or exchange-traded funds. However, unlike index funds, Hedgehog users own the assets in their stacks directly. Funds are held on crypto exchange Gemini, with self-custody support potentially available in the future. The six stacks are Total Crypto, Satoshi, DeFi, ETH Network, Layer One, and Yield Farming.
Hedgehog Technologies, the parent company of Hedgehog Advisers, raised $1.6 million from companies including 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 a know-your-customer (KYC) process.