TechFlow News — According to Bloomberg, Wall Street asset management firm One River Asset Management has purchased $600 million worth of Bitcoin. CEO Eric Peters also stated that by early 2021, it plans to increase the value of its holdings in Bitcoin and Ethereum to $1 billion.
Eric Peters said his goal is to build a "blue-chip trust" for institutional clients seeking digital assets, enabling institutions to gain exposure without engaging in aggressive trading or risky investments. One River Digital Asset Management has appointed Northern Trust Corp. as fund administrator and Coinbase as its initial partner for trade execution and custodial services. The fund charges a 1% fee but allows investors to conduct same-day redemption transactions.
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