NPS Buys Coinbase Shares For A Total Of $19.9 Million, Signaling Crypto’s Rise
- South Korea’s National Pension Service – NPS buys Coinbase shares, marking its first crypto-related investment.
- Coinbase is well-positioned to benefit from this growing interest, and similar moves by other investors are expected in the coming months.
The world’s third-largest pension fund, NPS buys Coinbase shares in Q3, marking its first venture into the crypto industry. This year alone, the pension fund acquired 282,673 shares of Coinbase Global.
South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, has made a surprising move by purchasing a significant number of shares in Coinbase.
According to the latest holdings report submitted to the US Securities and Exchange Commission (SEC), the NPS bought $19.9 million worth of shares in the digital asset company during the third quarter. This year alone, the pension fund acquired 282,673 shares of Coinbase Global.
NPS Breaks Tradition by Investing in Crypto-Related Security
The acquisition marks the first time NPS has included any crypto-related security as part of its investment option. With over $755 billion in assets under management, it is not common for investors like NPS to directly invest in digital assets. Instead, they typically enter the industry through company investments, as seen in this case with Coinbase.
The fact that NPS, a traditional finance and investment entity, has shown interest in purchasing Coinbase shares highlights the increasing trend and value of the crypto industry.
Coinbase, with its position at the forefront of the industry, is well-positioned to take advantage of this growing interest. It is expected that similar moves by other investors will emerge in the coming months, signaling the continued development and potential of the crypto market.
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