The increasing popularity of spot crypto exchange-traded funds (ETFs) among retail investors has fueled the growth of companies providing real-time data and analysis tools. SoSoValue, a Singapore-based startup, is at the forefront of this trend, offering a comprehensive platform for tracking crypto investments. The company recently announced a successful $15 million funding round, solidifying its position in the burgeoning crypto data market.
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This latest funding round, led by Hongshan, SmallSpark, Mirana Ventures, and Safepal, brings SoSoValue’s total valuation to $200 million. With nearly $20 million in total funding secured, the company is poised to expand its offerings and cater to the growing demand for reliable crypto market insights.
SoSoValue was founded in 2023 by Jessie Lo, May Wang, and Jivvva Kwan, who recognized the need for a more accessible and user-friendly crypto investment platform. They observed a significant gap in the market for tools that could simplify the complexities of crypto for traditional finance investors. “When the three of us got together, we realized there’s a huge gap in making crypto easy to understand for investors, and there’s even less ways to onboard into crypto investing,” Lo stated in a recent interview.
Real-Time Data and AI-Powered Insights
The SoSoValue platform provides users with a comprehensive suite of tools, including real-time crypto price tracking, an AI-curated news feed, and interactive charts. A key differentiator for SoSoValue is its detailed ETF data, which allows investors to monitor daily inflows and outflows. While competitors like CoinGlass and CoinMarketCap offer similar services, SoSoValue emphasizes its direct partnerships with crypto exchanges. This strategy, according to Lo, ensures access to the most current data, avoiding the delays often associated with third-party data providers.
Expanding Investment Products with the SoSoValue Indices Protocol
SoSoValue intends to leverage the new funding to further develop its SoSoValue Indices Protocol. This protocol utilizes smart contracts to automatically acquire digital assets and package them into wrapped tokens. Wrapped tokens represent the value of another cryptocurrency on a different blockchain, providing investors with greater flexibility and accessibility.
In late December, SoSoValue launched four initial indices, mirroring the concept of the S&P 500. These indices offer investors exposure to a diversified basket of cryptocurrencies at their spot market price. For instance, the MEME.ssi token tracks the top 10 memecoins by market capitalization. This allows investors to participate in the price movements of these memecoins without directly owning them. SoSoValue charges a 0.01% daily service fee for token holders and plans to introduce additional indices in the future. Currently, these indices are not available in the United States.
Index Investing: A Simplified Approach to Crypto
“For ordinary investors, the best approach is index investing. We believe the best solution for everyday investors is a spot-based index that automatically rebalances—as a stress-free, market-tracking investment option,” Kwan affirmed. SoSoValue aims to empower retail investors with a simplified and automated approach to navigating the complexities of the crypto market. The company’s commitment to providing accurate, real-time data and innovative investment products positions it for continued growth in the rapidly evolving crypto landscape.
