Share this article
Asian Digital Asset Manager Hyperithm Raises $11M
Hyperithm said it is seeing growth in the institutional market for digital assets in East Asia.
Updated Sep 14, 2021, 1:41 p.m. Published Aug 18, 2021, 11:50 a.m. 1 min read
Hyperithm, a Tokyo-based digital asset management firm, raised $11 million in a Series B funding round that was co-led by South Korea's Hashed and Wemade Tree, a subsidiary of the gaming company behind the "Legend of Mir" series.
- Other participating investors in the round included Coinbase Ventures, Cocone, GS Futures and the Guardian Fund, Hyperithm said in an email.
- Founded in January 2018, Hyperithm operates in Tokyo and Seoul and specializes in automated trading and risk management through cryptographic algorithms.
- The firm said it is seeing growth in the institutional market for digital assets in East Asia.
- It serves institutional investors, publicly listed companies, family offices, venture capital companies, crypto exchanges and miners.
- Previous investors have included South Korea's VIP Research & Management and the venture capital firms owned by South Korean internet companies Kakao and Naver.
Read more: South Korea’s Hashed Raises $120M Venture Fund for Crypto Deals
More For You
From May 20 to May 29, XRP funds took in $35 million while bitcoin and ether ETFs lost roughly $2 billion combined, with Ripple’s earlier reported XRP treasury plan still awaiting confirmation.
What to know:
- U.S.-listed spot XRP ETFs drew $11.88 million in net inflows on May 29, extending a week of gains even as bitcoin and ether funds saw continued redemptions.
- Total net assets in U.S. XRP ETFs now stand near $1.12 billion, with about $35 million added since May 20 while bitcoin and...
