Union Square Ventures’ stake in Coinbase soared by tenfold in two years to $4.6 billion after the cryptocurrency exchange’s listing on the Nasdaq, according to Bloomberg.

- Union Square’s stake in Coinbase has soared to $86 billion, with a valuation of $328.28 a share.
- Union Square Co-founder Fred Wilson in 2013 invested $2.5 million in Coinbase.
- Following the investment, Wilson said “it’s a gut bet” and may be “completely wrong” or may be a “fantasy.” He also likened it to a sci-fi novel, which he said are the “best” reads for prospective investors.
- Securities filings show that Union Square unloaded 4.7 million shares for $1.8 billion the same day Coinbase was listed on Nasdaq.
- After Coinbase, Union Square’s biggest public exits are Twitter ($24.5 billion); Zynga ($7.0 billion); Lending Club ($5.4 billion), Cloudflare ($5.3 billion); Etsy ($3.3 billion); Twilio ($2.4 billion); and MongoDB ($1.6 billion).
- Union Square has had 10 public exits in eight years since its inception in 2003, nine of which have reached billion-dollar valuations on their listing.
COIN:Nasdaq is up 0.42%