Coinbase acquires institutional investment firm One River

US-based cryptocurrency exchange Coinbase has acquired One River Digital Asset Management, an institutional investment firm with a focus on cryptocurrencies. This move represents a significant development for Coinbase as it continues to broaden its range of services for institutional clients. By acquiring SEC-registered investment adviser, One River, Coinbase will benefit from the firm’s institutional-grade investment technology and expertise, which will enhance its existing trading platform for institutional investors.

Coinbase already offers a range of institutional services, including trading, staking, and custody. The addition of One River’s capabilities will broaden the choice for institutional clients seeking to invest in cryptocurrencies. Following the acquisition, One River Digital Asset Management will be renamed Coinbase Asset Management.


Brian Armstrong, the CEO of Coinbase, said:

Brian Armstrong, Coinbase

Brian Armstrong
Source: LinkedIn

We’re thrilled to integrate One River’s investing expertise into Coinbase. One River has pioneered institutional digital asset investing and we’re looking forward to continuing their tradition of innovation.

One River Digital Asset Management’s acquisition by Coinbase comes at a time when institutional interest in cryptocurrencies is growing, with many hedge funds and asset managers allocating a portion of their portfolios to cryptocurrencies as a hedge against inflation and a potential store of value.

Although the terms of the acquisition were not disclosed, industry sources suggest that it could be one of the largest acquisitions in the cryptocurrency industry to date. One River recently announced the launch of a new product, ONE Digital SMA, which is powered by Coinbase Prime technology and is designed to enable institutional investors, especially wealth managers, to access One River’s trading expertise while holding all their assets directly on the Prime platform (Coinbase Custody).

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