Coinbase（硬幣）將於2025年5月19日加入標準普爾500指數，取代Discover Financial Services

Coinbase（NASDAQ：COIN）定於2025年5月19日加入標準普爾500指數。該指數跟踪美國最大的500家公開上市公司

Coinbase (Nasdaq: COIN) is set to join the S&P 500 index on 19 May 2025, replacing Discover Financial (NYSE: DFS). The index tracks the largest 500 publicly listed companies in the US across various sectors, including finance, tech, healthcare, and more. Coinbase will be listed under the financials sector.

Coinbase（NASDAQ：COIN）定於2025年5月19日加入標準普爾500指數，取代Discover Financial（NYSE：DFS）。該索引跟踪了美國在各個領域的最大500家公開上市公司，包括金融，技術，醫療保健等。 Coinbase將在金融領域列出。

The cryptocurrency exchange is expected to be a small addition to the index, given its limited size compared to other S&P 500 constituents. However, its inclusion still carries significant weight and could impact both Coinbase and the broader market.

鑑於其規模有限，與其他標準普爾500指數相比，該加密貨幣交易所預計將是該指數的一小部分。但是，其包容性仍然具有很大的重量，並可能影響共同基礎和更廣泛的市場。

Coinbase shares rose by about 10 per cent following the announcement on Monday after market close. The rally follows a 4 per cent rise earlier in the day due to improving market sentiment as the trade war concerns eased.

週一宣布後，Coinbase的股價上漲了約10％。由於貿易戰的關注緩解，這次集會在當天早些時候增長了4％。

The movement of COIN shares in last 1 month (source: Google Finance)

硬幣股票在過去一個月中的移動（來源：Google Finance）

Although Coinbase shares are still down by around 27 per cent over the past six months, they have risen by 17 per cent in the last month (excluding the latest after-market rise).

儘管在過去的六個月中，Coinbase股票仍下跌約27％，但上個月它們的股票增長了17％（不包括最新的售後漲幅）。

The S&P 500 is a broad market index that follows 500 large-cap publicly traded companies in the US. It is a benchmark index used to measure the performance of the U.S. stock market.

標準普爾500指數是一個廣泛的市場指數，遵循美國500個大型公開交易的公司。它是用於衡量美國股市績效的基準指數。

The index is market-cap-weighted, meaning companies with larger valuations—such as Microsoft (Nasdaq: MSFT), Apple (Nasdaq: AAPL), and Nvidia (NYSE: NVDA)—have a greater impact on the index’s performance. In contrast, smaller constituents, particularly those ranked in the bottom 400 by size, carry significantly less weight. These firms, where Coinbase is likely to be positioned, typically account for just 0.01% to 0.2% of the index each.

該指數具有市場上的加權，這意味著具有更大估值的公司，例如Microsoft（NASDAQ：MSFT），Apple（NASDAQ：AAPL）和NVIDIA（NYSE：NVDA），對指數的表現產生了更大的影響。相比之下，較小的成分，尤其是那些在底部400中排名的成分，重量明顯較小。這些公司可能會定位共插的公司，通常僅佔每個索引的0.01％至0.2％。

Despite their limited individual influence, they collectively support the index’s overall diversification.

儘管個人影響力有限，但他們共同支持該指數的整體多元化。

Being added to the S&P 500 brings several benefits for any company. The most immediate is an increase in demand for its shares. This happens because all index-tracking funds—such as ETFs and mutual funds—must buy the stock, usually leading to a rise in trading volume and sometimes in the share price.

被添加到標準普爾500指數中為任何公司帶來了一些好處。最直接的是對其股份的需求增加。之所以發生這種情況，是因為所有指數追踪基金（例如ETF和共同基金）可能會購買股票，通常會導致交易量增加，有時甚至以股價上漲。

Coinbase shares are expected to be in high demand as several large institutions will need to purchase them to adjust their portfolios. For instance, the iShares CORE S&P 500 (State Street) ETF has assets under management of over $446 billion and will need to buy Coinbase shares to maintain its holdings in the S&P 500.

預計Coinbase股票的需求很高，因為幾個大型機構需要購買它們以調整其投資組合。例如，Ishares Core S＆P 500（State Street）ETF的資產管理於4.46億美元以上，並且需要購買Coinbase股票以維持其在標準普爾500標準普爾500的持股。

Moreover, including Coinbase in their portfolios will require adjustments from numerous other institutions tracking the S&P 500 index. Among the largest is the Vanguard S&P 500 ETF (New York:VOO), boasting over $500 billion in AUM.

此外，在其投資組合中包括Coinbase將需要調整許多其他機構，這些機構跟踪標準普爾500指數。最大的是Vanguard S＆P 500 ETF（紐約：VOO），擁有超過5000億美元的AUM。

Inclusion can also attract more institutional investors. Many funds are restricted to investing only in S&P 500 stocks, so joining the index can draw in longer-term capital and broader investor interest.

包容還可以吸引更多的機構投資者。許多資金僅限於僅在標準普爾500股股票上進行投資，因此加入指數可以吸引長期資本和更廣泛的投資者利息。

The cryptocurrency exchange recently agreed to acquire the crypto options platform Deribit in a $2.9 billion deal. The transaction will include $700 million in cash and 11 million shares of Coinbase Class A common stock.

加密貨幣交易所最近同意以29億美元的交易獲得加密貨幣期權平台Deribit。該交易將包括7億美元現金和1100萬股Coinbase A類普通股。