• Coinbase has signed partnerships with the NBA, WNBA, etc.
  • The partnership will allow US-based basketball content to educate fans about crypto.
  • Meanwhile, the first Bitcoin ETF has started trading on Nasdaq.

US-based cryptocurrency exchange Coinbase has signed a multi-year partnership with the National Basketball Association (NBA) and Women’s National Basketball Association (WNBA). By and large, the partnership will open the mainstream basketball space into cryptocurrency, along with other features.

Additionally, Coinbase’s brand will debut at the game marking the start of the 75th anniversary season of the NBA. Coinbase will also become the presenting partner of the WNBA Commissioner’s Cup. Moreover, Coinbase partnered with the USA Basketball men’s and women’s national team exhibition tours and NBA G League Ignite.

According to Coinbase CMO Kate Rouch, 

“The freedom to participate and benefit from the things you believe in is at the heart of Coinbase’s mission.  Nobody believes this more than NBA and WNBA fans.  We’re proud to become the Leagues’ official cryptocurrency partner. As part of the partnership, we will create interactive experiences to engage with the NBA and WNBA’s incredible community and athletes around the world.”

Meanwhile, the first Bitcoin exchange-traded fund (ETF) has started trading. During its first day, the trade volume reached $1 billion.

Institutional investment firm Grayscale also applied for a Bitcoin ETF following the recent approval of ProShares and Valkyrie. If the application gets the nod of authorities, Grayscale would be trading the largest institutional holding of Bitcoin. 

An ETF is a type of security that represents a specific asset (Bitcoin in this case) and is traded on a stock exchange.

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