Coinbase Solidifies Leadership Position with One River Digital Acquisition

On Friday (3 March 2023), Coinbase announced that it had acquired One River Digital Asset Management (ORDAM), a digital asset management firm that provides institutional clients with exposure to digital assets through investment products.

According to Coinbase’s blog post, this acquisition will enable Coinbase to establish Coinbase Asset Management, offering investment advisory services to a range of institutional clients, and it fits in with Coinbase’s goal of filling the gap between institutions and the crypto economy.

Coinbase says it has a history of partnering with ORDAM, with ORDAM leveraging Coinbase Prime to provide investment solutions to sophisticated institutions.

ORDAM will continue to operate as an independent entity under Coinbase management, with Eric Peters, CEO/CIO of ORDAM, continuing as CEO/CIO of the company and CEO/CIO of One River Asset Management, an independent business.

The blog post also mentioned that Coinbase and ORDAM share a similar approach to prudent risk management, prioritizing safety and soundness in their operations with digital assets.

According to a report by CoinDesk, Greg Tusar, Coinbase’s head of institutional product, told Bloomberg:

This is about wanting to bring more institutional capital into the world of crypto… We expect to build – on the other side of this crypto winter – an awesome asset-management business.

Coinbase (Nasdaq: COIN) stock is up 2.15% today:

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