Coinbase Buys a Crypto Hedge Fund, Setting Its Sights on Institutional Clients

Coinbase Global Inc. said Friday it bought One River Asset Management’s crypto investments business to help attract institutional investors interested in digital assets. The acquisition of One River Digital is Coinbase’s latest foray into the business of managing money for big investors. The crypto market now pins its hopes for future growth on getting more of these investors to add digital assets to their portfolios.