Coinbase goes to the next level

CoinDesk reporters received information about high-level negotiations between representatives of the Coinbase exchange and the management company Osprey Funds to take over its business. Both companies declined to comment on the topic after receiving official inquiries.
The largest exchange Coinbase has set a course for scaling its business by acquiring successful startups in the cryptocurrency market. On the one hand, the purchase of Osprey Funds does not break the trend, but on the other hand, it will be the first entry of an American company into the institutional investment market.

Coinbase goes to the next level

The fund is known for its launch of ETFs focused on Bitcoin and the Polkadot (DOT) cryptocurrency. The Osprey Polkadot Trust, became the first DOT asset listing in the form of shares.
With the acquisition of the new company, Coinbase will enter the institutional investment market, competing with Grayscale. Perhaps the exchange is planning to get into the ranks of companies that the US SEC will allow to launch the first American Bitcoin ETF.
FX24

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