The NPS Fund acquired 282,673 shares at an average price of $70.5. The investment amount was $19.92 million, or almost ₩26 billion.
In the third quarter, COIN shares grew up by 4% in the third quarter, and by 177% in just a year.
On Wednesday, the total value of the shares owned by the fund was about $27.74 million. Thanks to investments in Coinbase, the fund received 40% of the profit for the quarter.
It is worth noting that for the first time in history, NPS has added a company from the field of digital assets to the portfolio. Earlier, the National Assembly of South Korea criticized the NPS for doing business with digital assets. The key objection of the authorities is that such investments do not bring any money, and the only way to make a profit is the further resale of assets.
A study by Pensions Age showed that pension funds overwhelmingly consider digital assets as an alternative tool for portfolio diversification.