CalSTRS Jumps into Crypto with $7 Billion Bet on Coinbase

The California State Teachers Retirement System (CalSTRS) has significantly increased its holdings in Coinbase Global, Inc. (COIN), purchasing an additional 46,558,893 shares during the second quarter.

According to a recent Form 13F filing with the Securities and Exchange Commission, CalSTRS owned 46,883,279 shares of COIN after making this purchase, representing a 14,352.9% increase in its holdings.

This acquisition makes CalSTRS one of the largest shareholders of Coinbase Global, owning approximately 17.77% of the company's stock worth $6,853,867,000 at the end of the quarter.