Coinbase has purchased One River Digital Asset Management (ORDAM), a digital asset manager focused on providing clients exposure to digital assets through investment products.
According to Coinbase, ORDAM – an SEC-registered investment adviser – will form the foundation of Coinbase Asset Management and offer investment advisory services to a range of new and existing institutional clients.
Coinbase and ORDAM have a history of close partnership. ORDAM leverages Coinbase Prime to deliver differentiated investment solutions to sophisticated institutions and the two firms claim they partnering to build innovative digital asset management infrastructure such as ONE Digital SMA, a suite of digital investment strategies and indexes in an easy-to-use separately managed account (SMA) platform powered by Coinbase Prime and Coinbase Custody, a New York DFS qualified custodian.
Coinbase said itself and ORDAM share an ethos grounded in prudent risk management, a trait which has enabled both firms to successfully navigate the recent market turmoil.
Coinbase said, “Culturally, our two organisations are strongly aligned on pursuing the opportunity in digital assets with an uncompromising priority on safety and soundness. 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.”
Eric Peters will continue to serve as the CEO/CIO of ORDAM as well as the CEO/CIO of One River Asset Management, an unaffiliated 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, segregated from our trading and exchange businesses, with minimal disruption to current business activities and standard controls implemented among well-regulated and diversified financial institutions.
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