COIN Stock Soars 23% Ahead of Coinbase’s May 19 Debut on S&P 500
The post COIN Stock Soars 23% Ahead of Coinbase’s May 19 Debut on S&P 500 appeared on BitcoinEthereumNews.com. Coinbase (COIN) stock is up by 2.94% in pre-market trading after posting a 23% gain on Tuesday, May 13. COIN stock has been on a steady rise this week after reports emerged that Coinbase will be included in the S&P 500 index on May 19, where it will join tech heavyweights like Apple, Microsoft, and Nvidia. COIN Stock Soars on S&P 500 Listing The recent gains in COIN stock price have led to Coinbase adding more than $15 billion to its market cap within three days, and the upward momentum will likely continue with the S&P 500 news. COIN Stock Price The inclusion of Coinbase in the index also marks a pivotal point for the exchange and the crypto industry, considering the strict requirements that companies have to meet to join the S&P 500. This includes having sufficient liquidity for six consecutive months and positive earnings in the last four quarters. Therefore, it is likely that COIN stock continues to extend gains in the coming weeks as investor confidence in the company strengthens. Crypto Community Hails “Major Milestone” Top voices in the crypto industry have reacted to the news around Coinbase stock joining the benchmark index. Michael Saylor, the executive chairman of US-listed Bitcoin-centric MicroStrategy, opined that having COIN on the S&P 500 was a “major milestone for Coinbase and for Bitcoin.” Last year, MSTR joined the MSCI World Index and Russell 1000. At the same time, the President of ETF Store, Nate Geraci, notes that Wall Street fund managers who have been shunning spot Bitcoin and Ethereum ETF products will be forced to allocate capital to COIN stock. He said, “Think about how many Vanguard investors will now own Coinbase. But they still can’t buy spot BTC or ETH ETFs on Vanguard’s brokerage platform. Vanguard is fighting a losing…
The post COIN Stock Soars 23% Ahead of Coinbase’s May 19 Debut on S&P 500 appeared on BitcoinEthereumNews.com.
Coinbase (COIN) stock is up by 2.94% in pre-market trading after posting a 23% gain on Tuesday, May 13. COIN stock has been on a steady rise this week after reports emerged that Coinbase will be included in the S&P 500 index on May 19, where it will join tech heavyweights like Apple, Microsoft, and Nvidia. COIN Stock Soars on S&P 500 Listing The recent gains in COIN stock price have led to Coinbase adding more than $15 billion to its market cap within three days, and the upward momentum will likely continue with the S&P 500 news. COIN Stock Price The inclusion of Coinbase in the index also marks a pivotal point for the exchange and the crypto industry, considering the strict requirements that companies have to meet to join the S&P 500. This includes having sufficient liquidity for six consecutive months and positive earnings in the last four quarters. Therefore, it is likely that COIN stock continues to extend gains in the coming weeks as investor confidence in the company strengthens. Crypto Community Hails “Major Milestone” Top voices in the crypto industry have reacted to the news around Coinbase stock joining the benchmark index. Michael Saylor, the executive chairman of US-listed Bitcoin-centric MicroStrategy, opined that having COIN on the S&P 500 was a “major milestone for Coinbase and for Bitcoin.” Last year, MSTR joined the MSCI World Index and Russell 1000. At the same time, the President of ETF Store, Nate Geraci, notes that Wall Street fund managers who have been shunning spot Bitcoin and Ethereum ETF products will be forced to allocate capital to COIN stock. He said, “Think about how many Vanguard investors will now own Coinbase. But they still can’t buy spot BTC or ETH ETFs on Vanguard’s brokerage platform. Vanguard is fighting a losing…
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