Coinbase Exchange in Process To Acquire Osprey Funds

Coinbase, the popular US-based cryptocurrency exchange, is reportedly set to acquire Osprey Funds, a startup that allows for direct purchasing and selling of exchange tokens.

Coinbase is the most well-known cryptocurrency exchange. Founded by Brian Armstrong and Fred Ehrsam in June 2012, Coinbaser has quickly become the most popular place to buy, trade, and store cryptocurrencies in the United States.

Coinbase, the largest US-based cryptocurrency exchange, has sent a letter to the Securities and Exchange Commission (SEC) that it is currently in the process of acquiring Osprey Financial, an online-based retailer of crypto-related products, according to sources close to the matter.

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News from the Exchange

  • The Osprey Fund is a non-profit organization dedicated to preservings is now being acquired by Coinbase.
  • At this point, the discussions are high-level and informal.
  • Coinbase is Osprey’s fund’s custodian.

According to two individuals familiar with the matter, Coinbase, an online safe bitcoin trading platform, is in the process of purchasing asset management company Osprey Funds.

As a result, one of the sources said that the discussions are now at a high level and are informal. Osprey Funds did not respond to a request for comment. Coinbase’s representative said that the firm does not comment on “rumors and conjecture.”

Furthermore, Coinbase has liquid assets, as shown by its April public listing and last week’s announcement of a $1.25 billion convertible note issuance. Coinbase has been steadily gaining market share in recent years. And it bought crypto businesses including Tagomi, a prime broker, Bison Trails, an infrastructure company, and Skew, a data platform.

Coinbase is another online platform that has over 30 million clients. More than $150 billion in bitcoins have been exchanged via Coinbase. Coinbase provides a range of goods to its customers, including a retail exchange. As a result, Coinbase provides a wallet that can store various cryptocurrencies and tokens.

Asset management may become a new business for Coinbase in the future. Coinbase is the custodian of billions of dollars in institutional assets. The agreement with Osprey hasn’t been completed, according to both sources.

Notably, a second source who requested anonymity stated,

“From Coinbase’s viewpoint, there is a demand for asset management.”

Osprey Fund

Osprey Fund is a well-known bitcoin fund. The introduction of a fun specialized in Polkadot, an alternative public blockchain to Ethereum, was recently announced. Coinbase also serves as the custodian for Osprey’s fund.

Osprey Funds also competes with Grayscale. Grayscale assets are also in Coinbase’s possession.

For you, we recommend

In April 2017, Coinbase announced that it was in the process of acquiring Osprey. Osprey was an early crypto exchange that was acquired by Coinbase in 2016. At the time, Coinbase said the acquisition would help them “accelerate” their development. Now it appears that Coinbase is in the process of acquiring Osprey, and it is likely that Osprey will be integrated into Coinbase.  Coinbase has announced that this integration will help them “drive scale” and “reinforce” the adoption of crypto assets.. Read more about osprey ethereum trust and let us know what you think.

Frequently Asked Questions

How long does a conversion take on Coinbase?

It takes about 10 minutes to convert your money from one currency into another.

Is it safe to keep money on Coinbase exchange?

Yes, Coinbase is a safe exchange.

How does Osprey Bitcoin trust work?

Osprey Bitcoin trust is a way to help you buy and sell bitcoins with confidence. Its an escrow service that holds your bitcoin in its own wallet until the transaction is complete.

Related Tags

This article broadly covered the following related topics:

  • coinbase acquisition
  • osprey coinbase
  • osprey funds stock
  • osprey funds aum
  • osprey ethereum trust

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