# Wave Digital Assets LLC

> Wave Digital Assets LLC is an SEC-registered investment advisory firm in Los Angeles, CA, registered since 2021, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated August 21, 2026.

- CRD: 305726
- Filed as: WAVE DIGITAL ASSETS LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Los Angeles, CA
- Filing period: October 2026
- Form ADV filing dated: August 21, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/305726
- AdvisorCensus page: https://advisorcensus.com/firm/wave-digital-assets-llc-los-angeles-ca-305726

## Quick answers

**How is Wave Digital Assets LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Wave Digital Assets LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**How much does Wave Digital Assets LLC charge?**
Its Form ADV Part 2A brochure dated August 21, 2026 states: Asset-based fee: 0.1% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Wave Digital Assets LLC located?**
Wave Digital Assets LLC's principal office is in Los Angeles, CA, according to its Form ADV.

**Is Wave Digital Assets LLC registered with the SEC or a state?**
Wave Digital Assets LLC is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 305726.

**How much does Wave Digital Assets LLC manage?**
Wave Digital Assets LLC reports $91,862,975 in regulatory assets under management in its Form ADV filing dated August 21, 2026 (100% discretionary).

**How have Wave Digital Assets LLC's assets and staff changed since 2021?**
In the Form ADV data for Wave Digital Assets LLC: Regulatory assets under management: $1,043,292,575 in the October 2021 data and $91,862,975 in the October 2026 data, down 91%. Total employees: 25 in October 2021 and 33 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Wave Digital Assets LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (18); high net worth individuals (2); charitable organizations (1).

**Which custodians does Wave Digital Assets LLC use?**
Wave Digital Assets LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Aplo SAS, Balance Custody, Bitgo, Inc., Coinbase and Copper Custody as custodians holding 10% or more of its separately managed account assets.

**Does Wave Digital Assets LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/305726

**What changed in Wave Digital Assets LLC's recent Form ADV filings?**
In the September 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated August 21, 2026)

- Asset-based fee: 0.1% to 2% a year (a range, as the brochure states it)

> For its discretionary management services, each Client that is subject to a management fee pays to the Adviser an annual management fee (the “Management Fee”), generally ranging from 0.1% to 2.0%, payable monthly or quarterly in arrears.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Aplo SAS
- Balance Custody
- Bitgo, Inc.
- Coinbase
- Copper Custody

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $91,862,975
- Discretionary: $91,862,975
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 2 | $8,089,158 |
| Pooled investment vehicles (other than investment companies and business development companies) | 18 | $64,664,241 |
| Charitable organizations | 1 | $265,663 |
| Corporations or other businesses not listed above | 1 | $18,843,913 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2021 (5 years)
- Employees: 33 total, 20 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- medium.com/wave-digital-assets
- wavegp.com
- LinkedIn @wave-digital-assets
- X @wavedigital_
- YouTube @UCl6TFM_ql4WG42g9h04uQhg

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,043,292,575 | 25 | September 15, 2021 |
| October 2022 | $1,212,431,127 | 35 | September 6, 2022 |
| October 2023 | $233,382,406 | 36 | September 7, 2023 |
| October 2024 | $335,844,190 | 37 | September 5, 2024 |
| October 2025 | $351,570,475 | 39 | May 9, 2025 |
| October 2026 | $91,862,975 | 33 | August 21, 2026 |

Regulatory assets under management: $1,043,292,575 in the October 2021 data and $91,862,975 in the October 2026 data, down 91%.
Total employees: 25 in October 2021 and 33 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 26 to 20.
- Regulatory assets under management went from $351,570,475 to $91,862,975 (-74%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Wave Digital Assets LLC (CRD 305726): Form ADV filing data as of October 2026.