Coinbase in S&P 500: More crypto firms to come?
“This normalizes crypto exposure in conservative portfolios that might otherwise avoid digital assets,” said Bitpace’s Meryem Habibi.
This past week, Coinbase joined the S&P 500, one of the world’s most elite stock indexes — a triumph for the crypto firm, which spent much of the 2020s battling US government agencies like the SEC and Commodity Futures Trading Commission for its survival.
But this attainment is not about one company alone.
“This is more than an achievement for Coinbase; it’s a landmark for the broader crypto and blockchain industry,” said Meryem Habibi, chief revenue officer of Bitpace. Coinbase joining the S&P 500 doesn’t just boost the owner of the largest US cryptocurrency exchange. “It cements the legitimacy of an entire asset class,” she told Cointelegraph.
