The crypto US stocks are killing it! Coinbase enters the S&P 500, who will the institutional reapers cut this time?
#CryptoConceptUSStocks
Coinbase becomes a component of the S&P, Wall Street officially concedes
Early this morning, the crypto US stocks welcomed an epic positive development—Coinbase (COIN) was officially included in the S&P 500 index, with after-hours stock price surging by 10%. This is not only the first time the crypto industry has entered a mainstream financial index, but it also means Wall Street has completely bowed down: traditional capital must give way to the pricing power of on-chain assets.
Data shows that Coinbase currently has a market value of $65.4 billion, with a custody of 890,000 BTC (accounting for 4% of the circulating supply), and Q1 trading revenue of $1.26 billion, with institutional clients accounting for over 60%. This move directly slaps the SEC in the face; after all, they sued Coinbase last year for 'illegally operating securities,' yet now they tacitly allow it to enter the field.
Core targets: Three types of players are frantically attracting traditional capital
