Coinbase COIN 1.27%Global Inc. said Friday it bought One River Asset Management’s crypto investment business to attract institutional investors interested in digital assets. The crypto market is now pinning its hopes for future growth on getting more of these investors to add digital assets to their portfolios. Over time, however, Coinbase’s asset management business could provide a steady source of fee income, said Owen Lau, a senior analyst at Oppenheimer. One River Digital is rebranded as Coinbase Asset Management. Mr. Peters also continues to lead One River Asset Management, the investment company he founded in 2013.

Source: Wall Street Journal March 05, 2023 02:47 UTC