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ETF investors say Coinbase listing will cause an explosion in cryptoasset investing

ETF investors say Coinbase listing will cause explosion in crypto investing CNBC 3 days ago Replay Video UP NEXT The pending Coinbase direct listing, scheduled for Wednesday on the Nasdaq under the symbol COIN, is exciting a broad base of the investment community outside the usual cryptocurrency crowd. Coinbase is going to blow people s minds, said Matt Hougan, chief investment officer at Bitwise Asset Management, which pioneered the first cryptocurrency index fund. I think it s going to force traditional finance to wrestle with the phenomenal growth that is taking place in crypto. It s not hard to understand why. Coinbase is likely the biggest beneficiary of the cryptocurrency revival. It had 56 million verified users, with $1.8 billion in revenues in the first quarter alone, and a value that could be anywhere from $50 billion to $100 billion.

ETF Investors Say Coinbase Listing Will Cause Explosion in Crypto Investing

It s not hard to understand why. Coinbase is likely the biggest beneficiary of the cryptocurrency revival. It had 56 million verified users, with $1.8 billion in revenues in the first quarter alone, and a value that could be anywhere from $50 billion to $100 billion. That is an extraordinary valuation for an exchange of any type. By contrast, Intercontinental Exchange, which runs the New York Stock Exchange, has a market cap of $65 billion, while Nasdaq has a market cap of $25 billion. That kind of valuation is getting the investment community and particularly exchange-traded fund investors very excited. Biggest crypto pure play Crypto assets have had the same problem that other hot commodities (like pot or space) have had in the past: a high degree of interest with a notable lack of investible assets. Coinbase, however, will go a long way toward solving that problem.

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