Fun

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

News Feed - 2023-03-04 10:03:46

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


Cryptocurrency exchange Coinbase has acquired One River Digital Asset Management, an institutional digital asset manager and registered investment adviser with the Securities and Exchange Commission (SEC). This acquisition allows Coinbase “to expand institutional access to digital assets,” the crypto exchange 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 institutional digital asset manager and registered investment adviser with the Securities and Exchange Commission (SEC).


One River Digital Asset Management “will transition to become Coinbase Asset Management (CBAM), and will operate as an independent business and wholly-owned subsidiary of Coinbase,” the crypto exchange explained, elaborating: The acquisition aligns with our long-term strategy to unlock further opportunities for institutions to participate in the cryptoeconomy.


CBAM will be segregated from Coinbase’s trading and exchange businesses, the exchange noted, adding that Eric Peters will continue to serve as the chief executive officer and chief investment officer of ORDAM (now CBAM). He is also the CEO And CIO of One River Asset Management.


Coinbase detailed that it is already serving 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: With over $130 billion of quarterly institutional trading volume and over $50 billion of institutional assets on platform, Coinbase operates at the center of the institutional digital asset market.


Despite 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 crypto winter. In January, a different survey showed that institutional investors see “a strong year ahead for bitcoin,” with 65% of survey participants expecting BTC to hit $100K in the long term.


Coinbase’s Friday announcement adds: With this acquisition, we are excited to welcome ORDAM’s best-in-class team to Coinbase and to partner more deeply to expand institutional access to digital assets. Tags in this story Coinbase, Coinbase acquires One River, Coinbase Asset Management, Coinbase Digital Asset Management, Coinbase subsidiary One River, Eric Peters, One River


What do you think about Coinbase acquiring One River Digital Asset Management to expand its crypto products and services to institutional investors? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Warren Buffett-Backed Neobank Nubank Launches Own Currency Nucoin EXCHANGES | 2 hours ago Crypto Exchange Bitzlato Restores Access to User Funds EXCHANGES | 20 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleFTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation Next articleIndia’s Central Bank Digital Currency Will Act as Alternative to Cryptocurrency, Says RBI Official Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards


Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Iran to Increase Penalties for Unauthorized Cryptocurrency Mining

News Feed

IMF urges careful design, slow introduction for Pacific Island digital currencies
Derek Andersen2 hours agoIMF urges careful design, slow introduction for Pacific Island digital currenciesThe island nations have common challenges and widely varying conditions. Just don’t use crypto, the IMF says.610
Asset managers update proposals for Ether ETFs, eyeing July launch
Ana Paula Pereira2 hours agoAsset managers update proposals for Ether ETFs, eyeing July launchEther ETFs are expected to launch in the first week of July, according to analysts.551 Total views2 Total sharesListen to arti
DeepMind AI hits silver-medal standard in International Mathematical Olympiad
Martin Young5 hours agoDeepMind AI hits silver-medal standard in International Mathematical OlympiadGoogle’s DeepMind says its AlphaProof and AlphaGeometry 2 AI models are breaking new ground in mathematical reasoning
Ethereum network is valued fairly, but ETH could still see 17x return — Brian Russ
Ray Salmond3 hours agoEthereum network is valued fairly, but ETH could still see 17x return — Brian RussUsing a unique quantitative approach, ETHDenver speaker Brian Russ told attendees that ETH is fairly valued but co
Bitcoin Price Risks Market Crash After Closing Below Final Weekly Resistance
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Ezra Reguerra29 minutes agoCoinbase spot trading volume falls by 52% compared to 2022: ReportCoinbase recorded around $76 billion in spot trading volume, sharply declining compared to the same quarter in 2022.188 Total v
Bitcoin Sharks & Whales Continue To Accumulate: Stage Set For New All-Time High?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Cardano Price Shows Signs Of Recovery — Is A Return To $1 Inevitable?
Este artículo también está disponible en español. The altcoin market was on a red-hot streak the previous week, with large-cap assets like Cardano, Solana, and Dogecoin p
Ethereum Profit Streak Signals ATH Breakout For Over 90% Of Investors
Este artículo también está disponible en español. Ethereum (ETH) is once again in the news, but this time it’s good news for buyers. Recent data shows that over 90%
Report: Morocco Now North Africa’s Leading P2P Crypto Trading Nation
Report: Morocco Now North Africa"s Leading P2P Crypto Trading Nation In the year 2021, Morocco, which previously announced measures restricting crypto trading, became North Africa&
Price analysis 3/13: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIB, AVAX, TON
Rakesh Upadhyay3 hours agoPrice analysis 3/13: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIB, AVAX, TONThe crypto market rally is starting to show signs of exhaustion, but Bitcoin and altcoin charts highlight traders" desire
Solana sandwich bot makes $30M from MEV arbitrage in 2 months
Brayden Lindrea7 hours agoSolana sandwich bot makes $30M from MEV arbitrage in 2 monthsMRGN Research’s Ben Coverston says the Solana-based MEV bot has made an active effort to date to keep a low profile.4081 Total view