Cryptocurrency-fund manager One River Digital Asset Management has integrated a new product leveraging Coinbase Prime’s turnkey solutions, in a bid to drive institutional investors to its fund.
One River, backed by billionaire fund manager Alan Howard, announced the establishment of its separately managed account ONE Digital SMA, in a statement, Friday. The account seeks to deliver “institutional-quality digital investment strategies” for Coinbase Prime users.
Coinbase Prime is the exchange’s turnkey solution for brokerages, exchanges and financial tech companies. Prime touts post-trade and real-time reporting, as well as historical analytics, smart order routing and cold storage custody solutions.
“ONE Digital SMA is fundamental to how investment strategies and services will be delivered to institutions and private wealth platforms in the future,” said Eric Peters, CEO and CIO of One River.
“Blockchain technologies allow vastly more efficient trading and settlement, and this will push the financial system to tokenize the majority of real and financial assets.”
The account, offered via Coinbase Prime, provides an institutional index and active strategies, the companies said. It is currently available to large players.
Wealth Management firms and financial advisors will, in time, also be able to manage an increasingly larger proportion of their clients’ assets, especially as asset tokenization “accelerates,” the companies said.
“As asset owners continue to move from digital research towards digital implementation in 2022, we are finding that many clients prefer to own digital assets in their own segregated account,” said Brett Tejpaul, Head of Coinbase Institutional in the statement.
“These asset owners also want the same quality of investment management services that they are accustomed to in traditional investments.”
One River, which has $2.1 billion in assets under management, raised $41 million in a Series A back in September that included the likes of Coinbase and Bloomberg. One River’s advisory council includes former US Securities and Exchange Commission Chair Jay Clayton and former General Counsel of the CIA Courtney Simmons Elwood.