Cryptocurrency market data store SoSoValue has raised $15 million in a Series A funding round, reaching a valuation of $200 million ahead of the token and token launch.

SoSoValue ETF tracking platform Plans To launch a cryptocurrency spot indices protocol and four wrapped tokens following a $15 million cash raise led by SmallSpark.ai and HongShan, formerly known as Sequoia China.

The cryptocurrency market data provider, called the SoSoValue Indices protocol, will allow investments through a pool of tokens issued on Base, an Ethereum scaling solution backed by cryptocurrency exchange giant Coinbase.

The four wrapped tokens, including MAG7.SSI, MEME.SSI, DEFI.SSI and USSI, will be launched soon to provide a broad channel to major crypto assets for investors.

MAG7.SSI ​​will track the top seven digital assets by market capitalization, representing the cryptocurrency version of Wall Street's "Magnificent 7." Meme investors can access the top 10 meme coins by evaluating through MEME.SSI.

SoSoValue's DEFI.SSI focuses on DeFi and the top 10 DeFi coins, while USSI tracks the top seven cryptocurrencies with a delta-neutral strategy designed for stable gains.

The popularity of the data provider grew after the US Securities and Exchange Commission approved instant Bitcoin (Bitcoin) ETFs in January 2024.

SoSoValue has been noted as a crypto startup that records the daily volume, inflows, outflows, and assets under management of Bitcoin ETFs. The company also prepared data pages and reports for the site (Ethereum) ETFs when they launched around the middle of last year.