What Silvergate crisis? ARK keeps upping Coinbase exposure this month.
released on Feb. 27, ARK hinted at its rationale, voicing excitement at Coinbase announcing its Ethereum Layer-2 network, Base.
“In our view, Coinbase’s decision to build and integrate its services into a decentralized crypto infrastructure highlights its deep alignment with the fair, transparent, and accessible financial services that public blockchains aim to offer,” it wrote. “While it will not derive transaction revenue from Base at launch, Coinbase is likely to benefit financially if its Wallet serves as a trusted on-ramp and access point to applications on the network as it scales.”The buy-ins have come at a price — the firm's cost basis is currently at $254 per share, far in excess of their current value.Also benefiting this week is the largest Bitcoin institutional investment vehicle, the Grayscale Bitcoin Trust .
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