Coinbase Acquires Big Crypto Investment Fund

Coinbase strengthens its position – While the American bank silver gate no longer hides his great financial difficulties, Coinbase has already announced that it has cut ties with its financial services. At the height of this interminable crypto winter, Brian Armstrong’s exchange is showing resilience against all odds and is even taking the opportunity to increase its hold on the American market. We learned last week that One River Digital Asset Management would become Coinbase Asset Management. A nice move for the platform, which is getting even closer to large institutional clients.


One River Digital Asset Management becomes Coinbase Asset Management

On March 3 in a article blogging, Coinbase has therefore officially announced that it has acquired One River Digital Asset Management (ORDAM), a subsidiary of One River Asset Management. Along the way, the investment fund will change its name and become Coinbase Asset Management. ORDAM is registered with the DRY as an investment advisor, but more importantly it is one of the leading digital asset managers for large institutional players.

The spokespersons of Coinbase welcomed this agreement:

“Coinbase and ORDAM share a philosophy based on careful risk management, a trait that has helped both companies navigate recent market turmoil successfully. Culturally, our two organizations are strongly aligned on pursuing opportunities in digital assets with an uncompromising priority on security and robustness. »

Coinbase has just acquired One River Digital Asset Management after years of working with them.  In doing so, Brian Armstrong's platform is positioning itself more than ever as a key player in institutional crypto investment.
Coinbase announces acquisition of ORDAM on social media – source: Twitter

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In pursuit of institutional money

In fact, these two had already worked together for a long time since ORDAM already relied on the services of Coinbase Premium to offer investments to its clients. Additionally, Coinbase Ventures was an early investor in One River Digital Asset Management. It is therefore a marriage of convenience that follows a long and close collaboration.

This acquisition is in line with Coinbase in an assumed strategy to become a key player in the institutional market. Moreover, in the fourth quarter of 2022, 25% of the 100 bigger hedge funds of the world had already chosen Coinbase for their crypto investment. In practice, Eric Peters, CEO of ORDAM, will remain at the head of the new entity which should continue to operate with little operational disruption following this administrative change.

Coinbase confirms its place as the second cryptocurrency platform behind the indestructible Binance. But by getting closer to players regulated by the Securities and Exchange Commission, the exchange could take a step ahead of its main competitor in the months to come. Especially since the recent launch of its own layer 2 opens to him promising new prospects.

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