The independently managed account will be accessible only to Coinbase Prime customers and will be primarily focused on institutional investors.
Cryptocurrency exchange Coinbase has signed a deal with One River Digital Assessment Management to give institutional-grade wealth managers an exclusive platform for incorporating digital asset investments and engaging in associated activities.
Coinbase stated in an official post that the launch of the ONE Digital SMA will provide access to “a suite of digital investment strategies and indexes in an easy-to-use separately managed account platform."
The feature will be accessible just to Coinbase Prime users, a premium subscription service that offers boosted trading abilities and also a tailored custody system to secure assets customized to the specific needs of high-net-worth people.
Coinbase explained the service in the announcement:
“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, along with Liberty Mutual Insurance and banking titan Goldman Sachs, were among three cryptocurrency firms to invest in the $41 million Series A fundraising round of crypto hedge fund One River Digital a subsidiary of One River Asset Management in September 2021.
The project aimed to increase awareness and eventual acceptance of the digital asset space among institutional clients in the United States and other parts of the world. According to recent evaluations, One River Asset Management has around $2.3 billion in assets under management (AUM).