- One River will serve as Coinbase Asset Management’s flagship operation.
- Marcel Kasumovich will remain in his present role as deputy chief investment officer.
One River Digital Asset Management is a top institutional digital asset manager and SEC-registered investment advisor, and it was recently bought by Coinbase Global Inc., the biggest cryptocurrency exchange in the United States.
As a result of the purchase, One River will serve as Coinbase Asset Management’s flagship operation, advising a wide range of institutional customers on their investment strategies.
Focusing on Institutional Clients
Coinbase’s official release states that the acquisition helps the company get closer to its long-term aim of bridging the gap between the regular economy and the cryptocurrency market. With over $130 billion in quarterly institutional trading activity and over $50 billion in institutional assets kept on the platform, Coinbase is at the epicenter of the institutional digital asset market. As of the fourth quarter of 2022, more than 25 percent of the world’s top 100 hedge funds by reported assets under management have decided to join Coinbase.
Eric Peters, a professional macro trader, established One River Digital as a subsidiary of his bigger hedge fund. One River Digital, in contrast to most other key players in the cryptocurrency market, has tailored its operations to serve the specific requirements of institutional clients like pension funds rather than those of ordinary consumers.
Peters will continue in his roles as CEO and CIO of the newly formed Coinbase Asset Management after the transaction. Experienced investment specialist Marcel Kasumovich will remain in his present role as the company’s deputy chief investment officer. Kasumovich has previously worked for Goldman, Merrill Lynch, and Soros Fund Management.
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