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Coinbase's potential as an index play for traditional finance crypto exposure

Coinbase (COIN) shares may serve as an "index play" for traditional finance firms seeking broader exposure to the cryptocurrency sector, according to Mitchell Askew, head analyst at Bitcoin mining company Blockware Solutions.

He noted that as Coinbase offers a range of crypto verticals, it can be seen as a safer option for investors new to the crypto sector.

These investors may buy some Bitcoin but may feel unsure which other digital assets to choose.

In such cases, Askew believes COIN could potentially appeal as a safe index style investment.

He shared these views during a Twitter Spaces session hosted by Bitcoin supporter Anthony Pompliano.