Coinbase stock is loved by all! From banks, institutions to governments, it is popular among major players.

According to a review of U.S. regulatory filings, large banks and asset management companies, including Goldman Sachs, JPMorgan Chase, Citigroup, and Bank of America, as well as firms like BlackRock, Millennium Management, Bridgewater, Miller Value Partners, and even state treasuries such as the Tennessee Department of Treasury, hold shares of the cryptocurrency exchange Coinbase (COIN).

According to regulatory filings in the United States, major banks and asset management companies such as Goldman Sachs, JPMorgan Chase, Citigroup, and Bank of America, as well as firms like BlackRock, Millennium Management, Bridgewater, Miller Value Partners, and even state treasuries like the Tennessee Department of Treasury, hold shares of the cryptocurrency exchange Coinbase (COIN).

On the 17th, Coinbase closed at $250.8, down 2.35%.

Coindesk reported that not only Wall Street investors are bullish on Coinbase, but even some state governments entered the market investing millions of dollars before the end of the second quarter.

Despite the unclear regulations on the cryptocurrency market in the United States and the ongoing skepticism, the decision of these investors to invest in exchanges indicates that their optimism towards the prospects of the crypto economy extends beyond just the assets themselves to include the exchanges.

On June 30, Citadel Advisors LLC, a multinational hedge fund founded by Ken Griffin, held over $1.3 billion in COIN, with over $1 billion in both bullish and bearish options. The financial investment quant firm Susquehanna International Group also invested nearly $1.3 billion in COIN, with most of it used for hedging.

In addition, in government organizations, the Pennsylvania Public School Employees' Retirement System holds $2.6 million in COIN, the Wisconsin Investment Board holds $6.4 million, the Tennessee Treasury holds $1.7 million, and the Utah Retirement Systems holds $13.2 million.

When Coinbase's stock becomes a target jointly held by governments and corporations, it is not difficult to imagine the future landscape and development of crypto assets.

This article is authorized for reprint from Horizon News Network