伯恩斯坦（Bernstein）看到Coinbase加入标准普尔500

Coinbase将于5月19日正式加入标准普尔500指数，标志着以加密货币为中心的公司的历史性第一。

Coinbase will officially join the S&P 500 on Friday, May 19, marking a historic first for a cryptocurrency-focused company to be included in the benchmark index.

Coinbase将于5月19日（星期五）正式加入标准普尔500指数，标志着以加密货币为中心的公司的历史性第一，将包括在基准指数中。

The move follows Capital One’s planned acquisition of Discover Financial Services, which opened up a spot for the crypto giant in the S&P 500.

此举遵循Capital One计划对Discover Financial Services的收购，该服务为标准普尔500指数的加密巨头打开了一个席位。

This development pushes Coinbase into the spotlight among traditional financial giants. The listing itself comes amid an ongoing narrative of Wall Street's interest in digital assets despite regulatory hurdles.

这一发展使Coinbase成为传统金融巨头的焦点。尽管有监管障碍，但列表本身就对华尔街对数字资产的兴趣进行了持续的叙述。

Bernstein analysts project that the inclusion could trigger a massive surge in demand for Coinbase shares, specifically estimating an influx of $16 billion.

伯恩斯坦分析师项目指出，包容性可能会引发对Coinbase股份的需求激增，特别是估计涌入160亿美元。

Their analysis anticipates passive funds tracking the S&P 500 to inject as much as $9 billion. Another $7 billion could flow in from active managers adjusting portfolios to reflect the new addition.

他们的分析预计被动基金跟踪标准普尔500指数的注入多达90亿美元。活跃的经理可以调整投资组合以反映新增加的活动，另有70亿美元可能会流入。

"Even a 0.1% allocation from active S&P 500 funds would generate multi-billion dollar buying activity," noted analyst Gautam Chhugani. This rebalancing effect is commonly observed when companies join major indices.

分析师Gautam Chhugani指出：“即使是活跃的标准普尔500基金分配的0.1％也将产生数十亿美元的购买活动。”当公司加入主要指数时，通常会观察到这种重新平衡效果。

According to Bernstein's calculations, Coinbase is expected to represent 0.1% of the entire S&P 500 and 0.7% within the index’s financial sector.

根据伯恩斯坦的计算，预计Coinbase将占整个标准普尔500指数的0.1％，在该指数的金融领域中，占0.7％。

Considering the broader S&P 500 has a total value of around $52 trillion, this inclusion could have a significant impact on institutional portfolio readjustments, particularly with large-cap passive funds likely to make bulk purchases of Coinbase shares.

考虑到更广泛的标准普尔500指数的总价值约为52万亿美元，此包含可能会对机构投资组合的重新调整产生重大影响，尤其是在大型被动资金的情况下，可能会批量购买Coinbase股票。

This move signals mainstream recognition for Coinbase and the broader crypto industry. As institutional adoption continues to rise, its place in the S&P 500 could boost credibility, liquidity, and investor access, ultimately playing a role in shaping the future of cryptocurrency within traditional financial markets.

此举标志着Coinbase和更广泛的加密行业的主流认可。随着机构采用的不断上升，其在标准普尔500指数中的地位可以提高信誉，流动性和投资者的访问，最终在塑造传统金融市场中加密货币的未来方面发挥了作用。