Coinbase Announces Acquisition of One River Digital Asset Management

Cryptocurrency exchange Coinbase announced Friday that it has  acquired One River Digital Asset Management (ORDAM), a subsidiary of One River Asset Management. As an SEC-registered investment adviser, ORDAM will form the foundation of Coinbase Asset Management and offer investment advisory services to a range of new and existing institutional clients.

ORDAM is a leading digital asset manager focused on providing institutional clients exposure to digital assets via investment products. Coinbase and ORDAM have a history of close partnership and Coinbase Ventures was also an early investor in ORDAM.

"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," Coinbase stated in its announcement.

Eric Peters will continue to serve as the CEO/CIO of ORDAM (now CBAM) as well as the CEO/CIO of One River Asset Management, an unaffiliated and independent business. 

The exchange said: "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."

It added: "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 in building our asset management business and providing industry-leading products and services to the institutions we support."