South Korea’s pension fund bags 280K Coinbase shares: SEC data

The National Pension Service (NPS), a public pension in South Korea and one of the worlds largest pension funds, bought just over 280,000 shares of the global cryptocurrency exchange Coinbase in the 3rd quarter of this year, a financial investment that has actually acquired 39% in value because the purchase.The NPS got 282,673 Coinbase (COIN) shares in the third quarter of 2023, according to a stock holdings report submitted with the United States Securities and Exchange Commission (SEC) on Nov. 15. According to the SEC filing, the NPS has gotten its Coinbase stock batch for about $19.9 million, which implies that the pension funds earnings equated to $7 million, or 39%. In action, the NPS argued that it only invested in the exchange and that cryptocurrencies were not a financial investment target.Related: Coinbase narrows loss, while crypto trading volumes fall in Q3Coinbase stock has seen significant growth in 2023, surging to as high as $110 per share in July.