I think this is the beginning of a beautiful friendship

NASDAQ:COIN   Coinbase Global, Inc.
If you remove the first two hours of trading on Coinbase, the performance of the share price looks a lot like the performance of Bitcoin.

It is never going to be 1-for-1 and nor should it, but there is a visible pattern there.

Will there be a spread/arb/reversion trade there? Maybe one day, but a reasonable correlation will allow those that can only invest in shares, such as many fund managers and retirement funds, to have risk exposure to the coin market. Same reason certain EFTs exist.

A senior analyst at Swissquote, Ipek Ozkardeskaya worte: "As such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors."

It’s a new stock so still finding it’s ground, but interesting to watch a relationship develop, like the end of Casablanca.

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