Over the last year, institutional investors have been flocking toward crypto assets like bitcoin and after Microstrategy’s initial bitcoin purchase, the trending institutional demand for crypto started swelling. On Tuesday, the San Francisco trading platform Coinbase published a study that details how the company helped the firm One River Asset Management make “one of the largest digital asset trades in history.”
Not too long ago, Microstrategy
“Using our advanced execution capabilities, leading crypto prime brokerage platform, and OTC desk, we were able to buy a significant amount of bitcoin on behalf of Microstrategy and did so without moving the market,” Brett Tejpaul, head of institutional sales at Coinbase stated at the time.
On January 5, 2021, Coinbase
The study says that One River selected Coinbase after the company provided a full operational checklist. “The controls and security protocols offered by Coinbase met our rigorous operations and compliance standards,” the COO and risk officer Ian Malloch said of the experience with the San Francisco company. The published report also notes that the digital asset investment made by One River took around five days to complete.
One River’s CIO, Eric Peters, led the trade executions and worked directly with Coinbase’s institutional trading team. The team worked with various time zones, evaluated shifting liquidity and Peters leveraged a wide range of Coinbase tools and algorithms. The study says the trades were executed in a way that would not move the market higher. A majority of the trades settled by One River and Coinbase’s institutional trading team were done in an algorithmic manner.
The results led to One River obtaining a substantial crypto market position without affecting spot market prices in any way. “For the decade ahead, digital assets will be an important addition to every institutional portfolio,” Peters said after the substantial purchases. “This new asset class is an extraordinary opportunity, quite unlike anything I’ve ever seen. One River sees enormous long-term appreciation potential for some of these currencies,” Peters added.
Coinbase has also seen a significant amount of
What do you think about Coinbase and One River saying they had executed one of the largest digital asset trades in history? Let us know what you think about this subject in the comments section below.