Cryptocurrency exchange Coinbase has acquired One River Digital Asset One River Digital Asset Management, an institutional digital asset manager and SEC-registered investment advisor. The acquisition allows Coinbase to “expand institutional investors’ access to digital assets,” the crypto exchange said.
Coinbase Expands Institutional Access to Crypto
Coinbase (Nasdaq: COIN) announced Friday that it has acquired One River Digital Asset Management (ORDAM), a subsidiary of One River Asset Management ORDAM is an institutional digital asset management company and an investment advisor registered with the Securities and Exchange Commission (SEC).
One River Digital Asset Management “will transition to Coinbase Asset Management (CBAM) and operate as an independent business and wholly owned subsidiary of Coinbase,” the crypto exchange explained and elaborated.
The acquisition is consistent with our long-term strategy of further increasing opportunities for institutional investors to participate in the crypto economy.
CBAM will be separated from Coinbase’s trading and exchange business, the exchange noted, adding that Eric Peters will continue to serve as CEO and Chief Investment Officer of ORDAM (now CBAM). He also serves as CEO and CIO of One River Asset Management.
He detailed that Coinbase already serves many institutional investors.” As of Q4 2022, roughly 25% of the 100 largest hedge funds in the world by reported assets under management have chosen to onboard with Coinbase,” the crypto exchange said, adding.
Coinbase operates at the heart of the institutional digital asset market with more than $130 billion in quarterly institutional trading volume and $50 billion in institutional assets on its platform.
Despite the crypto winter, institutional investors continue to show interest in crypto assets A recent survey by Coinbase showed that institutional investors increased their crypto allocations during the crypto winter In January, another survey showed that institutional investors see “a strong year for bitcoin” BTCand 65% of survey participants expectedBTCto reach $100,000 in the long term.
Coinbase’s Friday announcement added that.
With this acquisition, we are pleased to welcome ORDAM’s best-in-class team to Coinbase and to partner more deeply to expand institutional access to digital assets.
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