According to South Korea’s local news agency News1, the world’s third largest pension fund National Pension Fund (NPS) of South Korea Bought Coinbase shares in the third quarter of 2023.
According to the report submitted by the Pension Fund to the SEC, NPS purchased 282,673 Coinbase shares worth $19.9 million.
While NPS’s assets under management reached $755 billion at the end of June, the fund cryptocurrency He made a sector-related asset part of his investment portfolio and invested in Coinbase stock.
At this point, the fund’s Coinbase investment in the third quarter is at a 40% profit.
In a statement made in 2021, the pension fund said that they could invest in crypto exchanges according to the investment policy they determined, but that they did not intend to invest directly in cryptocurrencies.
Coinbase shares, listed on Nasdaq, were at $33.6 at the beginning of 2023. Rising to $110, an increase of approximately 192% during the year coinbase Its shares (COIN) closed yesterday at $98.15.
Apart from the South Korean National Pension Fund, other companies have also invested in Coinbase. The most well-known and notable of these was Ark Invest, whose CEO is Bitcoin investor Cathie Wood.
Ark Invest has collected shares of Coinbase and some companies throughout the year, and recently sold some shares.
*This is not investment advice.
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