South Korea's NPS Invests $19.9M in Coinbase Shares

NPS of South Korea Purchases $19.9M Worth of Coinbase Shares

South Korea's National Pension Service (NPS), the world's third-largest pension fund, invested $19.9 million in Coinbase shares, marking its first entry into crypto-related securities. NPS, which has $755 billion in assets, previously had a policy against direct crypto investments. 

Coinbase's positive Q3 results and the anticipation of U.S. spot Bitcoin ETF approval may have contributed to the investment. Coinbase stock has surged 192.1% this year.