Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Coinbase, the leading crypto wallet and exchange platform in the U.S., has been making a lot of big moves to expand its reach in the industry. The most recent one is the opening of its index fund, which aims to unlock the untapped potential of industry investors who have been reluctant to enter the crypto market, Cointelegraph reported.
These investors make up one of the factors that Fundstrat tactician Tom Lee said can potentially push Bitcoin’s (BTC) trading value to $25,000. And the cryptocurrency is indeed included in the index fund that Coinbase just opened.
Aside from BTC, Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum Classic (ETC) are also on the index’s list, with the last one being the most recent addition to Coinbase’s operation. The company announced the creation of the fund last March, and Coinbase described it as something that would alleviate the fears of institutional investors. These fears include security and regulatory compliance.
It should be noted that the San Francisco-based crypto exchange recently acquired securities dealer Keystone Capital. This would allow Coinbase to operate under the Keystone license, which can then help transform itself into a fully regulated broker-dealer by the U.S. Securities and Exchange Commission.
As for the index fund, the company will allow authorized investors from the U.S. who will pour in anything from $250,000 to $20 million. These investors should also earn more than $200,000 a year or has a net worth of more than $1 million.
If Coinbase manages to draw in these huge players, the prediction of Tom Lee might come true. Bullish claims like this aren’t new in the crypto world and some are even pushing their speculations way beyond Lee’s number.
Tim Draper, for instance, stands firm in his belief that BTC can reach a $250,000 value in 2022. However, the cryptocurrency isn’t doing well in the market as it recently fell below the $7,000 threshold and is now trading at $6,673 as of this writing.
