Cryptocurrency exchange Coinbase (COIN) said it bought One River Digital Asset Management, an institutional digital asset manager registered with the U.S. Securities and Exchange Commission (SEC).

One River Digital, a subsidiary of One River Asset Management, will become Coinbase Asset Management (CBAM) and will "form the foundation" of Coinbase's investment advisory service for institutional clients, the exchange said in a blog post Friday.

No amount was disclosed for the acquisition.

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