Coinbase Acquires One River Digital to Expand Institutional Access to Crypto Assets

Cryptocurrency speech Coinbase has acquired One River Digital Asset Management, an organization integer plus manager and registered concern advisor with the Securities and Exchange Commission (SEC). This acquisition allows Coinbase “to grow organization entree to integer assets,” the crypto speech said.

Coinbase Expanding 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 organization integer plus manager and registered concern advisor with the Securities and Exchange Commission (SEC).

One River Digital Asset Management “will modulation to go Coinbase Asset Management (CBAM), and volition run arsenic an autarkic concern and wholly-owned subsidiary of Coinbase,” the crypto speech explained, elaborating:

The acquisition aligns with our semipermanent strategy to unlock further opportunities for institutions to enactment successful the cryptoeconomy.

CBAM volition beryllium segregated from Coinbase’s trading and speech businesses, the speech noted, adding that Eric Peters volition proceed to service arsenic the main enforcement serviceman and main concern serviceman of ORDAM (now CBAM). He is besides the CEO And CIO of One River Asset Management.

Coinbase elaborate that it is already serving galore organization investors. “As of Q4 2022, astir 25% of the 100 largest hedge funds successful the satellite by reported assets nether absorption person chosen to onboard with Coinbase,” the crypto speech said, adding:

With implicit $130 cardinal of quarterly organization trading measurement and implicit $50 cardinal of organization assets connected platform, Coinbase operates astatine the halfway of the organization integer plus market.

Despite crypto winter, organization investors proceed to amusement involvement successful crypto assets. A caller survey by Coinbase showed that organization investors increased their crypto allocations during crypto winter. In January, a antithetic survey showed that organization investors spot “a strong year up for bitcoin,” with 65% of survey participants expecting BTC to deed $100K successful the agelong term.

Coinbase’s Friday announcement adds:

With this acquisition, we are excited to invited ORDAM’s best-in-class squad to Coinbase and to spouse much profoundly to grow organization entree to integer assets.

What bash you deliberation astir Coinbase acquiring One River Digital Asset Management to grow its crypto products and services to organization investors? Let america cognize successful the comments conception below.

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