S&P 500, Coinbase
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Coinbase Global Inc. will join the S&P 500 next week, the first-ever crypto company to be included in the benchmark index. Coinbase soared in extended trading after the move was announced Monday.
Coinbase could see $9 billion of buying from passive funds linked to the S&P 500 index and $7 billion from active allocations, Bernstein said. Coinbase is the first crypto company to join the flagship stock index and its inclusion could pave the way for other digital asset firms to join.
Coinbase joins the S&P 500, bringing nearly $1B in Bitcoin onto the world’s most tracked index—and marking a turning point for corporate Bitcoin treasury strategy.
Bernstein analysts led by Gautam Chhugani issued a note on May 13 as per which the Coinbase stock could witness as much as $16 billion in capital inflows — $9 billion from S&P 500-linked passive funds and $7 billion from active allocations.
Shares of Coinbase rose sharply Tuesday on news that it would be included in the benchmark S&P 500 this month.
Coinbase's inclusion in S&P 500 is a watershed moment for crypto industry. Here's what it may mean for top meme coins including Bitcoin Pepe.
Coinbase joins the S&P 500, marking a milestone for Bitcoin, further highlighting Bitcoin’s strong performance, outperforming gold and the S&P 500 over the years.
Shan Aggarwal, VP of Corporate and Business Development at Coinbase, discusses the company's acquisitio of Deribit as it heads into the S&P 500. Watch!