Coinbase started trading on NASDAQ yesterday and after the first day of trading COIN was trading at $328, down 14% on the day, but still well above its reference price set by Nasdaq of $250.
Grayscale, the largest crypto asset manager, has reached $50 billion in assets under management. At the current rate Grayscale CEO believes their Bitcoin fund will have more AUM than the world’s largest commodity ETF in just a few months.
Coinbase CEO Brian Armstrong has said that he expects 50% of future revenues to come from non-trading businesses in the next “five or ten years”. He expects revenue from products such as staking, custody and debit cards to grow substantially in the future.
Sponsored: Don-Key is gearing up to introduce a platform to bring together liquidity providers and yield farmers, incentivizing participants to work together and share the benefits.
Top stories in the Crypto Roundup today:
- Coinbase Shares Rose and Then Fell Below Opening Price in Historic Direct Listing
- Crypto Asset Manager Grayscale Hits $50 Billion in Assets Under Management
- Coinbase Expects 50% of Future Revenues to Come From Non-Trading Businesses
- Sponsored: Don-Key is Developing a Social Yield Farming Platform