I went back and forth about investing but ultimately decided against it.  Since almost all of their profits are based on fees, I would see them facing more and more competition on that front as time goes on. 

Also since it seems like the price should fluctuate based on the crypto market, it feels better holding the actual crypto instead. 

I definitely still think the Coinbase IPO  marks a really important milestone for crypto as a whole.  It was definitely a good day for Marc Andreeson