Coinbase shares are a cheap way to bet on crypto

By listing on Nasdaq, Coinbase may undermine itself, giving investors an easy way to bet on bitcoin without paying its own high fees.

On April 14, shares in Coinbase, the world’s largest crypto exchange, began trading on Nasdaq after a direct listing. On its first day as a public company it set a market capitalization of $86 billion.

That is roughly the same as HSBC and bigger than any European bank: ahead of BNP Paribas at $65 billion, UBS at $57 billion and Santander at $50 billion.

Credit Suisse, which has been in the news recently and is one of the world’s largest wealth managers with $1.7

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