Coinbase becomes a component of the S&P, Wall Street officially concedes
This morning, the crypto stock market received an epic positive development—Coinbase (COIN) has been officially included in the S&P 500 index, with its after-hours stock price soaring by 10%. This not only marks the first time the crypto industry has entered a mainstream financial index but also signifies that Wall Street has completely bowed down: traditional capital must concede pricing power to on-chain assets.
Data shows that Coinbase currently has a market capitalization of $65.4 billion, with a custody of 890,000 BTC (accounting for 4% of circulation), and Q1 trading revenue of $1.26 billion, with institutional clients accounting for over 60%. This move directly slaps the SEC in the face, as they filed a lawsuit against Coinbase for "illegally operating securities" last year, yet now they tacitly allow its entry.
Core subject: Three types of players are frantically attracting traditional funds
