South Korea’s National Pension Service (NPS) has invested nearly ₩26 billion ($19.92 million) in Coinbase shares in Q3 2023, purchasing 282,673 COIN shares at an average price of $70.5. Coinbase shares currently trade at $98.15, up almost 40%, and the NPS has assets under management of over $750 billion. Coinbase reported a third-quarter loss of $2.2 million in 2023, posting better-than-expected financial results for the quarter. Asset managers including BlackRock have tapped Coinbase as a custodian for their spot Bitcoin ETF applications, and its layer-2 network Base has hit $590 million in Total Value Locked. This is good news for the crypto industry as it shows institutional investors are investing more in the space. #Coinbase #NPS #CryptoInvestment #BitcoinETF
You can read more about this topic here: Decrypt: South Korea’s National Pension Service Invested $20M in Coinbase Shares in Q3
