Cryptocurrency exchange Coinbase has penned a partnership agreement with One River Digital Assessment Management to provide institutional-grade wealth managers with an exclusive platform to acquire digital asset investments and engage in related activities.
Detailed in an official blog post, Coinbase claimed that the creation of the ONE Digital SMA will grant exposure to “a suite of digital investment strategies and indexes in an easy-to-use separately managed account platform."
The function will be exclusively accessible to Coinbase Prime users, a premium subscription service offering enhanced trading capabilities, and a bespoke custody model to protect assets tailored for the niche requirements of high net-worth individuals.
In the announcement, Coinbase summarized the service by saying:
“ONE Digital SMA is a solution for wealth managers that want to give clients access to crypto through direct ownership of assets, complete transparency and the ability to optimize future returns through value-added services, like staking.”
Coinbase Ventures were one of three cryptocurrency firms alongside Liberty Mutual Insurance and banking titan Goldman Sachs, to invest in the $41 million Series A funding raise of crypto hedge fund One River Digital — a subsidiary of One River Asset Management — in September 2021.
The initiative sought to enhance the exposure and subsequent adoption of the digital asset space among institutional clientele in the United States and wider regions. Recent valuations calculate that One River Asset Management holds in the region of $2.3 billion in assets-under-management (AUM).