Wave Digital Assets Llc
- Regulatory AUM
- $91.9M
- Discretionary
- $91.9M
- Clients
- 22
- Avg AUM / client
- $4.2M
- Accounts
- 22
- Employees
- 33
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| High net worth individuals | 2 | $8.1M | 8.81% |
| Pooled investment vehicles (non-investment companies) | 18 | $64.7M | 70.4% |
| Charitable organizations | 1 | $266K | 0.29% |
| Corporations and other businesses | 1 | $18.8M | 20.5% |
Private funds (14)
Reported in Form ADV Section 7.B.(1), filing of Sep 2024 · $309M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Wave Sma 1010 Ltd. | Hedge Fund | British Virgin Islands | $111M | 1 |
| Wave Sme 632 Ltd | Hedge Fund | British Virgin Islands | $45.2M | 1 |
| Wave Sma 152 Ltd. | Hedge Fund | British Virgin Islands | $31.7M | 1 |
| Wave Ada Yield Fund, Ltd. | Hedge Fund | British Virgin Islands | $27.3M | 1 |
| Wave Sme 742 Ltd. | Hedge Fund | British Virgin Islands | $23.0M | 1 |
| Wavemaker Genesis Master Fund master | Hedge Fund | Cayman Islands | $13.8M | 49 |
| Wave Sme 323 Ltd. | Hedge Fund | British Virgin Islands | $12.5M | 1 |
| Cfund, Ltd. master | Hedge Fund | British Virgin Islands | $12.1M | 9 |
| Wave Nft Non Fungible (Master) Fund I, Ltd. master | Hedge Fund | British Virgin Islands | $6.6M | 68 |
| Wave Select 5 Crypto Index Master Fund (Bvi), Ltd. master | Hedge Fund | British Virgin Islands | $6.6M | 13 |
| Wave Btc Income & Growth Digital Fund Ltd. master | Hedge Fund | British Virgin Islands | $6.6M | 40 |
| Wave Zen Yield Fund (Master), Ltd. master | Hedge Fund | British Virgin Islands | $5.4M | 1 |
| Wave Kentucky Whiskey 2020 Digital Fund, Llc master | Private Equity Fund | Delaware | $5.3M | 23 |
| Wave Sme 471 Ltd | Hedge Fund | British Virgin Islands | $2.0M | 1 |
People (8)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Anderson, Jennifer, Wilde | Chief Operating Officer | Sep 2018 (8y) | Less than 5% | |
| David Allen Siemer | Chief Executive Officer, Co Founder, Board Member | Sep 2018 (8y) | ≈ 18.75% – 50% via Wave Digital Assets Holdings Llc | |
| Benjamin Tsai | President And Board Member | Jun 2019 (7y) | Less than 5% | |
| Chapman, Kelly | Head Of Legal, Chief Compliance Officer | Jul 2022 (4y) | Less than 5% | |
| Samuel Asher Eisner | Registered representative | Mar 2021 (5y) | ||
| Heidi Ayako Pease | Registered representative | Jan 2025 (2y) | ||
| Gerard Barile | Registered representative | Jan 2026 (1y) | ||
| Zhujie Lu | Registered representative | Mar 2026 (0y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Wave Digital Assets Holdings Llc | Managing Member | Nov 2018 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- David Allen Siemer: 25% – 50% of Wave Digital Assets Holdings Llc × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (14, $309M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Wave Sma 1010 Ltd. | Hedge Fund | $111M | $100M | 1 |
| Wave Sme 632 Ltd | Hedge Fund | $45.2M | $100K | 1 |
| Wave Sma 152 Ltd. | Hedge Fund | $31.7M | $5.0M | 1 |
| Wave Ada Yield Fund, Ltd. | Hedge Fund | $27.3M | $100K | 1 |
| Wave Sme 742 Ltd. | Hedge Fund | $23.0M | $100K | 1 |
| Wavemaker Genesis Master Fund | Hedge Fund | $13.8M | $250K | 49 |
| Wave Sme 323 Ltd. | Hedge Fund | $12.5M | $10.0M | 1 |
| Cfund, Ltd. | Hedge Fund | $12.1M | $100K | 9 |
| Wave Nft Non Fungible (Master) Fund I, Ltd. | Hedge Fund | $6.6M | $100K | 68 |
| Wave Select 5 Crypto Index Master Fund (Bvi), Ltd. | Hedge Fund | $6.6M | $50.0K | 13 |
| Wave Btc Income & Growth Digital Fund Ltd. | Hedge Fund | $6.6M | $100K | 40 |
| Wave Zen Yield Fund (Master), Ltd. | Hedge Fund | $5.4M | $250K | 1 |
| Wave Kentucky Whiskey 2020 Digital Fund, Llc | Private Equity Fund | $5.3M | $100K | 23 |
| Wave Sme 471 Ltd | Hedge Fund | $2.0M | $100K | 1 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 2.91 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Fixed fees
- • Performance-based fees
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Coinbase $21.5M (23% of AUM) Mar 2026
- Balance Custody $3.0M (3% of AUM) Mar 2026
- Bitgo, Inc. $1.5M (2% of AUM) Mar 2026
- Copper Technologies (Switzerland) Ag $911K (1% of AUM) Mar 2026
- Aplo Sas $295 (0% of AUM) Mar 2026
- Coinbase Custody $4 (0% of AUM) Mar 2023
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗