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

Binance tax evasion trial moved to May 17 in Nigeria
Amaka Nwaokocha11 hours agoBinance tax evasion trial moved to May 17 in NigeriaGambaryan’s lawyer, Chukwuka Ikuazom, objected, citing Nigerian law, stating he couldn’t plead until Binance, the primary defendant, was
While Chinese Bitcoin Miners Escaped Crackdowns, Sichuan’s Hydropower Plants Were Not So Lucky
While Chinese Bitcoin Miners Escaped Crackdowns, Sichuan"s Hydropower Plants Were Not So Lucky Regional reports from China indicate that government officials hav
Joe Hall9 hours agoHeating a home with a Bitcoin miner: Staying warm with satsThe heat generated from Bitcoin mining could make mining at home more accessible, affordable and environmentally friendly.5446 Total views3 To
Web3 Gaming Still Growing Despite Economic Woes, According to Dappradar Report
Web3 Gaming Still Growing Despite Economic Woes, According to Dappradar Report According to a recent report produced by Dappradar, the Web3 gaming industry has managed to raise $75
The $62B Stablecoin Giant Tether Publishes Assurance Report Reviewed by Auditor Moore Cayman
The $62B Stablecoin Giant Tether Publishes Assurance Report Reviewed by Auditor Moore Cayman Tether Limited has released an assurance report reviewed by Moore Ca
Ethereum LSD solution Puffer Finance moves to based rollups after raising $18M
Zhiyuan Sun11 hours agoEthereum LSD solution Puffer Finance moves to based rollups after raising $18MThe protocol is currently focused on bridging the liquidity gaps between different Ethereum layer solutions.925 Total v
Gareth Jenkinson9 hours agoVisa taps into Solana to widen USDC payment capabilityThe global payments firm has expanded its stablecoin settlement capability to include USDC tokens issued on the Solana blockchain.2929 Tota
Mastermind of a Cryptocurrency Scam Arrested in India
Mastermind of a Cryptocurrency Scam Arrested in India An alleged mastermind of a cryptocurrency scam has been arrested in India after he fled the country to Duba
Bitcoin futures open interest near ‘alarm raising’ $24B level — Are bulls at risk?
Marcel Pechman8 hours agoBitcoin futures open interest near ‘alarm raising’ $24B level — Are bulls at risk?BTC futures open interest approaches a record high and today’s sharp sell-off triggered alarm from trader
The Tell Tale Signs of a Scam Crypto Website: Bitcoin-Up.Live
The Tell Tale Signs of a Scam Crypto Website: Bitcoin-Up.LiveFrom late March 2020, when the global pandemic Covid-19 paralysed many economies, the appeal of cryptocurrencies has gro
Minimax․Finance Announces the Integration of VERSE DEX
Minimax․Finance Announces the Integration of VERSE DEX press release PRESS RELEASE.Minimax.Financeintegrated the recently launched VERSE DEX to provide the Minimax community with
Bitcoin, Ethereum Technical Analysis: BTC Falls From 5-Week High as Traders Continue to Digest Fed Decision
Bitcoin, Ethereum Technical Analysis: BTC Falls From 5-Week High as Traders Continue to Digest Fed Decision Bitcoin fell from a five-week high on Thursday, as markets continued to