Updated:
Wave Financial Inc.
Wave Financial was founded in 2018 by David Siemer, a former executive at ConsenSys and a seed investor in the Ethereum ecosystem.
Wave Financial Inc.
Wave Financial was founded in 2018 by David Siemer, a former executive at ConsenSys and a seed investor in the Ethereum ecosystem. The firm set up its headquarters in Toronto with the thesis that regulated, SEC-compliant crypto products would attract institutional capital that the largely unregulated crypto-native world could not. The firm operates across three verticals: asset management, advisory, and proprietary trading. Wave launched its first SEC-registered fund, the Wave BTC Income & Growth Fund, in 2020 (per the firm, 2020). It also issues yield-bearing structured products tied to digital asset holdings and provides private credit secured by crypto collateral. Known counterparties include Galaxy Digital and Coinbase. Wave manages a single-digit number of professionals, with a lean team that includes President Benjamin Tsai, a former Goldman Sachs executive. The firm does not disclose AUM publicly, and its advisory arm has worked with blockchain protocols and digital asset issuers. In April 2024, the firm announced the closure of its Wave Digital Income Fund, which targeted high-yield returns from DeFi and lending strategies. Wave differentiates itself by operating as a regulated asset manager in the digital asset space, filing funds with the SEC rather than relying on offshore structures. This posture positions it closer to firms like Bitwise or Grayscale than to decentralized protocols, appealing to family offices and endowments that require fiduciary oversight.
General information
Firm type
Asset Manager
Year founded
2018
AUM
$100M - $500M (Altss estimate)
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
Toronto, Ontario, Canada
Principals
David Siemer
CEO
Benjamin Tsai
President & Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Wave Financial?
CEO David Siemer and President Benjamin Tsai lead the firm. Siemer founded Wave in 2018 after serving at ConsenSys and as an early Ethereum backer. Tsai, a former Goldman Sachs vice president, oversees the asset management and advisory operations (per public record).
How does Wave Financial source proprietary deal flow?
Wave sources deals through its advisory arm, which works with blockchain protocols and digital asset issuers, as well as its network of institutional relationships in crypto infrastructure. The firm also originates private credit opportunities directly from crypto borrowers (per the firm's official communications).
Is Wave Financial structured as a single family office or does it operate more like a venture firm?
Wave Financial is an independent asset manager, not a family office. It operates with a multi-strategy structure that includes registered funds, advisory, and proprietary trading. The firm is regulated by the SEC and targets institutional investors, not a single wealthy family (per the firm, 2020).
Does Wave Financial participate in fund commitments or only direct deals?
Wave manages its own registered funds, such as the Wave BTC Income & Growth Fund, which are open to accredited investors. It also structures bespoke private credit deals and advisory mandates. It does not typically make venture-stage equity investments (per the firm, 2020).
What investment stages does Wave Financial typically target?
Wave focuses on liquid digital assets and private credit opportunities tied to crypto collateral. It targets yield-bearing and income-generating strategies, rather than early-stage venture or growth equity. The firm's funds invest in bitcoin, ether, and DeFi yield instruments.
Which sectors does Wave Financial explicitly avoid?
Wave avoids unregulated token offerings and non-SEC compliant structures. The firm explicitly positions itself within the regulated digital asset corridor, steering clear of unregistered securities and high-volatility meme coins (per public record).
Where does the underlying wealth come from?
Wave Financial does not manage single-family capital. Its clients are institutional investors, family offices, and accredited individuals seeking regulated exposure to digital assets. The firm's capital base is pooled from multiple investors, not a single family fortune.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: