Coinbase將於2025年5月19日正式添加到標準普爾500指數

2025年5月19日，Coinbase將正式添加到標準普爾500指數中，成為第一個加入世界上最具標誌性股票指數的主要加密平台。

Coinbase (NASDAQ:) will officially be added to the S&P 500 on May 19, making it the first major crypto platform to join the world’s most iconic stock index. For experts in the crypto space, this milestone marks an unprecedented level of institutional validation for the digital asset sector.

Coinbase（NASDAQ :)將於5月19日正式添加到標準普爾500指數中，這使其成為第一個加入世界上標誌性股票指數的主要加密平台。對於加密領域的專家來說，這個里程碑標誌著數字資產領域的機構驗證水平。

“This is not a symbolic gesture but a structural confirmation: Coinbase has met the rigorous standards for stability, liquidity, and profitability required by the index committee, which only admits well-established companies from the U.S. corporate elite,” says Dovile Silenskyte, Director of Digital Assets Research at WisdomTree.

Dovile Silenskyte說：“這不是像徵性的手勢，而是結構性的確認：Coinbase符合指數委員會要求的穩定性，流動性和盈利能力的嚴格標準，該標準僅承認美國公司精英的良好公司。”

Coinbase’s inclusion also coincides with a moment of strong momentum in the market: Bitcoin has surpassed $100,000, and altcoins such as Solana, Ether, and XRP are seeing significant capital inflows. “This reinforces renewed investor interest in the crypto ecosystem, and inclusion in the S&P 500 means Coinbase will begin channeling passive flows from the trillions of dollars tracking this index,” adds Silenskyte.

Coinbase的包容性還與市場上強勁的動力相吻合：比特幣超過了100,000美元，而Solana，Ether和XRP等山寨幣也看到了大量資本流入。 Silenskyte補充說：“這增強了對加密生態系統的新投資者的興趣，並且在標準普爾500指數中的包含意味著Coinbase將開始引導從數万億美元跟踪此指數的無源流。”

In the first week of May, Bitcoin surged past $100,000 and is now very close to its all-time high of $110,400. “Altcoins also rallied, in some cases even outperforming Bitcoin. Ethereum, for example, gained 28% against Bitcoin last week, driven both by the trade agreement and the successful rollout of the long-awaited ‘Pectra’ upgrade on the Ethereum mainnet. On the more speculative end of the market, memecoins posted even steeper gains, in some cases up to 125%,” notes Simon Peters, analyst at eToro.

在5月的第一周，比特幣飆升了100,000美元，現在非常接近其歷史最高點110,400美元。 “例如，在某些情況下甚至超過比特幣。埃托羅。

However, experts remain cautious, and the current rally in crypto assets comes with nuances. For example, Manuel Villegas, Next Generation Research Analyst at Julius Baer, points out that Ethereum is not to silver what Bitcoin is to gold. “Their fundamental drivers are very different. In the short term, volatile —and noisy— macroeconomic conditions may obscure these distinctions, causing Ethereum to behave like a high-beta version of Bitcoin, but in the long run, each token’s fundamentals will prevail. Flows into Ethereum ETFs have been minimal —at best—. At the same time, we clearly see institutional interest in collateral management and stablecoins, where significant activity may concentrate on Ethereum. Meanwhile, its supply remains inflationary, as network activity is still limited,” Villegas notes.

但是，專家保持謹慎，而當前的加密資產集會伴隨著細微差別。例如，朱利葉斯·貝爾（Julius Baer）的下一代研究分析師曼努埃爾·維拉加斯（Manuel Villegas）指出，以太坊並不是要銀幣，比特幣對黃金是什麼。 “他們的基本驅動因素是非常不同的。在短期內，宏觀經濟狀況的波動和嘈雜的宏觀經濟條件可能會掩蓋這些區別，導致以太坊像比特幣的高β版本一樣行為，從長遠來看，每個代幣的基本面都會預見到以太坊eTf的最小興趣。穩定的活性可能集中在以太坊上，因為網絡活動仍然有限。

The Coinbase Case

Coinbase情況

Focusing on Coinbase, it’s worth highlighting that the company, which survived the bear market and regulatory pressure of 2022–2023, successfully transformed itself: it cut costs, diversified revenues into areas like staking, custody, and blockchain infrastructure, and posted GAAP profits in 2024, which cemented its eligibility.

在關注共同案件的關注時，值得一提的是，在2022 - 2023年的熊市市場和監管壓力下倖存下來，成功改變了自己：它削減了成本，多樣化的收入為Staking，Cancing，Canschain基礎設施和區塊鏈基礎設施，並在2024年公佈了GAAP利潤，該​​領域鞏固了其資格的資格。

“This inclusion accelerates the institutionalization of the crypto world and removes barriers for traditional investors, who now see Coinbase as a legitimate gateway to the sector. It also sends a clear signal to traditional financial firms: Wall Street is no longer watching from afar—it is participating, allocating capital, and gaining exposure —even passively— to crypto. What was once marginal is now an integral part of the global financial architecture. Crypto assets are no longer knocking on the system’s door — they’ve been handed the keys,” concludes Silenskyte.

“這種包容性加速了加密世界的製度化，並消除了傳統投資者的障礙，他們現在將Coinbase視為通往該行業的合法門戶。它還向傳統金融公司發出了明顯的信號：華爾街不再從遠處觀看，這是從遠處進行的，分配資本，並獲得了全球構造 - 現在是Crypto的組合，現在是一個集成了Crypto的組成部分。 Crypto資產不再敲門系統的門 - 它們已經交出了鑰匙。” Silenskyte總結道。

Current market conditions are heavily influenced by macroeconomic and geopolitical events, suggesting that volatility driven by external factors will continue. In terms of this asset class, crypto regulation in the U.S. and the U.K. is expected to remain a key focus throughout the rest of the year, with stablecoins being the main topic in the U.S. and spot ETFs the priority in the U.K.

當前的市場狀況受到宏觀經濟和地緣政治事件的嚴重影響，這表明由外部因素驅動的波動性將繼續。就這種資產類別而言，預計美國和英國的加密監管將在全年餘下的時間裡仍然是一個重點，stablecoins是美國的主要話題，並將ETF定位為英國的優先事項

According to Julius Baer, the crypto market’s rally reflects an improvement in risk sentiment, driven by the easing of trade tensions between the U.S. and China. Silenskyte explains that Bitcoin’s price increase is fundamentally linked to its scarcity, with institutional demand outpacing supply. Meanwhile, due to different fundamentals, Ethereum is likely to continue diverging from Bitcoin in the long term, despite currently being influenced by similar macroeconomic trends. “Regulatory developments in the U.S. and the U.K. will be crucial factors shaping the market going forward. Investors should proceed with caution, as macro-driven volatility will persist,” she adds.

根據朱利葉斯·貝爾（Julius Baer）的說法，加密貨幣市場的集會反映了風險情緒的改善，這是由於美國和中國之間的貿易緊張局勢的驅動。 Silenskyte解釋說，比特幣的價格上漲與機構需求的供應供應從根本上與其稀缺性有關。同時，由於不同的基本面，儘管目前受到類似的宏觀經濟趨勢的影響，但以太坊可能會長期與比特幣發散。她補充說：“美國和英國的監管發展將是塑造市場前進的關鍵因素。投資者應謹慎行事，因為宏觀驅動的波動將繼續存在。”

In their analysis, sentiment in the crypto market seems to have shifted significantly, coinciding with improved sentiment across financial markets following signs of reduced U.S.–China trade tensions. “Having said that, both Bitcoin and Ethereum have also seen strong rallies fueled by several acquisitions taking place in the background, among which Coinbase’s $2.9 billion acquisition of the non-listed options trading platform Deribit marked a turning point in the pause of crypto sector M&A activity,” concludes the Next Generation Research Analyst.

在他們的分析中，加密貨幣市場的情感似乎已經發生了很大的變化，與美國與中國貿易緊張局勢降低的跡象相吻合。下一代研究分析總結說：“話雖如此，比特幣和以太坊都看到了背景中發生的幾項收購所推動的強大集會，其中Coinbase的29億美元收購了非上市期權交易平台的29億美元收購標誌著Crypto行業M＆A活動的轉折點。”