Coinbase has acquired One River Digital Asset Management
With over $130 billion in quarterly institutional trading volume and over $50 billion of institutional assets on the platform, Coinbase operates at the center of the institutional digital asset market.
Our products are purpose-built to provide secure access to digital assets and Web3. Premier global institutions including asset managers, corporations, financial institutions and other market participants entrust Coinbase as their platform of choice in the crypto economy. As of Q4 2022, approximately 25% of the top 100 hedge funds in the world by reported assets under management have chosen to onboard with Coinbase.
In furtherance of our goal of bridging the gap between institutions and the crypto-economy, we are pleased to announce that Coinbase has acquired One River Digital Asset Management, a subsidiary of One River Asset Management. An SEC-registered investment advisor, ORDAM will form the foundation of Coinbase Asset Management and provide investment advisory services to a variety of new and existing institutional clients.
ORDAM is a leading digital asset manager with a focus on giving institutional clients exposure to digital assets via robust investment products. Coinbase and ORDAM have a history of close cooperation. ORDAM leverages Coinbase Prime to deliver differentiated investment solutions to sophisticated institutions, and we collaborate to build innovative infrastructure for digital asset management such as ONE Digital SMA, a suite of digital investment strategies and indices in an easy-to-use separately managed account (SMA). ) platform powered by Coinbase Prime and Coinbase Custody, a New York DFS qualified custodian. Coinbase Ventures was also an early investor in ORDAM.
Coinbase and ORDAM share an ethos based on sound risk management, a trait that has enabled both firms to navigate the recent market turmoil. Culturally, our two organizations are strongly aligned in pursuing the opportunity in digital assets with an uncompromising priority on security and soundness. With this acquisition, we are excited to welcome ORDAM’s best team to Coinbase and to collaborate more deeply to expand institutional access to digital assets.
Eric Peters will continue to serve as CEO/CIO of ORDAM (now CBAM) as well as CEO/CIO of One River Asset Management, a non-affiliated and independent business. Eric has over 30 years of experience in the asset management industry and founded One River Asset Management in 2013. ORDAM will continue to operate as an independent entity under Coinbase, separate from our trading and exchange operations, with minimal disruption to current business activities and standard controls implemented among well-regulated and diversified financial institutions.
We welcome top talent at Coinbase, and the One River Digital Asset Management team represents the best expertise in their field. We look forward to working with them to build our asset management business and offer industry-leading products and services to the institutions we support.
