Coinbase Joins Forces With One River To Offer Separately Managed Accounts

Coinbase joins forces with One River Digital Asset Management to start offering separately managed accounts as we can see more today in our latest Coinbase news.

The users of Coinbase Prime will have access to the crypto fund manager One River digital trading expertise. Coinbase joins forces with One River to offer separately managed accounts which is an alternative to mutual funds in traditional finance where investors hold assets directly and then use an external asset manager.

Announced in a blog post, the clients of Coinbase prime can use the ONE digital SMA to avail themselves of the One River tradign expertise and hold their assets on the Prime platform or in the Coinbase Custody. The Prime clients prefer to own digital assets in their own segregated account but want the same quality of the investment management service that they are used to in the traditional investments as per the Head of Coinbase Institutional Brett Tejpaul. Tejpaul said:

“ONE Digital SMA is the best of both worlds. It delivers market-leading access and secure custody via Coinbase Prime and institutional-grade investment products and services from One River Digital.”

Coinbase is not the first exchange to offer SMAs. The New York city-based Gemini exchange partnered with 3iQ Digital Assets and Bitria to offer the investors a new digital asset SMA platform and later, Gemini even acquired Bitria. Coinbase was an investor in a $41 million Series A funding round for One River digital which is a crypto-focused subsidiary of One River Asset Management company that manages $2.5 billion of institutional assets.

As recently reported, TurboTax and Coinbase start offering tax refunds in Bitcoin so now users can file through TurboTax and can get directed to a coinbase account. The news reflected on how crypto is becoming a huge part of the taxation system. This also means that oftentimes taxation was a headache for the digital asset owners as the Internal Revenue Service grows quite aggressive about collecting the crypto profits but there’s now a silver lining at the end. Starting this year, the crypto users can receive their refunds in the form of Bitcoin or other cryptos thanks to a new arrangement between TurboTax and Coinbase. TurboTax users can ask to direct any refund they are owed from the IRS or state governments directly into their accounts of the exchange and have it converted to crypto.