With a stock capitalization greater than US $ 50,000 million, the inclusion of coinbase in the index represents a new step in the consolidation of cryptocurrencies within the conventional financial system.
The cryptocurrency exchange platform Coinbase It will make history this May 19 by becoming the First company in the crypto sector to enter the S&P 500the main stock market index in the United States. This was confirmed by S&P Dow Jones, announcing that the firm will replace Discover Financial Servicescurrently in the process of acquisition by One Financial Capital.
From his stock debut in 2021, Coinbase gained ground in the traditional financial ecosystem, largely thanks to the increase in the value of Bitcoin (BTC) and the approval of the ETF to cash of cryptoactive by American regulators. With a stock capitalization higher than US $50,000 millionthe inclusion of coinbase in the index represents a new step in the consolidation of cryptocurrencies within the conventional financial system.
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Despite the fall of more than 10% that accumulate their actions so far this year – in contrast to the advance of 10% of Bitcoin – the firm has met the financial requirements necessary to enter the index: it reported a net profit of US $ 66 million and income for US $ 2,030 million In his last quarter.
Besides, Coinbase could benefit from the impulse that usually follows the incorporation to the S&P 500since numerous funds that replicate the index must include their portfolio shares, which generally pushes up rising prices.
A new regulatory environment drives Coinbase
Coinbase’s advance is also favored by a Radical change in the regulatory environment of the United States after the return of Donald Trump To the Presidency. Under its administration, the Bag and Securities Commission (SEC) has adopted a more favorable position to cryptocurrencies, recently abandoning an investigation against coinbase and the crypto business of Robinhood.
Trump appointed key figures of the sector in power positions: Scott Besent As Secretary of the Treasury, Paul Atkins as president of the SEC, and David SacksPaypal co -founder, as “Cryptocurrency Tsar and Artificial Intelligence”From the White House.
Source: Ambito
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