South Korea National Pension Service: No plans to invest in cryptocurrencies for now, previous purchases of Coinbase and MicroStrategy stocks were automated

South Korea’s National Pension Fund claims it has no plans to invest in crypto assets for now, despite recent purchases of cryptocurrency-related stocks. The National Pension Service (NPS) of South Korea explained that its recent purchases of Coinbase and MicroStrategy shares were “automatic.” The fund said it uses index management tools to manually track the benchmark MSCI index, and also uses services that “entrust individual corporate investments to entrusted management (providers).” Therefore, NPS makes purchases when Coinbase and MicroStrategy stocks are “included in the relevant benchmark index” or selected by entrusted management providers. Last year, NPS’s fund managers bought $20 million worth of Coinbase shares. In August of this year, the fund invested $33.75 million in MicroStrategy shares. (Money Today)