Coinbase Raising $1B Through Convertible Note Sale to Fuel Growth Amid Bitcoin ETF Demand

Coinbase raising $1 billion through sale of convertible senior notes to qualified institutional buyers
Notes mature in 2030 and can be converted to cash, stock shares, or both
Coinbase stock price up 3% to $263.86 following announcement
Coinbase following MicroStrategy, which raised $600M through similar convertible note sale to buy more Bitcoin
Coinbase working as custodian and partner for major Bitcoin ETFs, which had record $1B inflows on Tuesday and now have over $60B assets under management