Coinbase（硬币）将于2025年5月19日加入标准普尔500指数，取代Discover Financial Services

Coinbase（NASDAQ：COIN）定于2025年5月19日加入标准普尔500指数。该指数跟踪美国最大的500家公开上市公司

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）定于2025年5月19日加入标准普尔500指数，取代Discover Financial（NYSE：DFS）。该索引跟踪了美国在各个领域的最大500家公开上市公司，包括金融，技术，医疗保健等。 Coinbase将在金融领域列出。

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.

鉴于其规模有限，与其他标准普尔500指数相比，该加密货币交易所预计将是该指数的一小部分。但是，其包容性仍然具有很大的重量，并可能影响共同基础和更广泛的市场。

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.

周一宣布后，Coinbase的股价上涨了约10％。由于贸易战的关注缓解，这次集会在当天早些时候增长了4％。

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

硬币股票在过去一个月中的移动（来源：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).

尽管在过去的六个月中，Coinbase股票仍下跌约27％，但上个月它们的股票增长了17％（不包括最新的售后涨幅）。

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.

标准普尔500指数是一个广泛的市场指数，遵循美国500个大型公开交易的公司。它是用于衡量美国股市绩效的基准指数。

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.

该指数具有市场上的加权，这意味着具有更大估值的公司，例如Microsoft（NASDAQ：MSFT），Apple（NASDAQ：AAPL）和NVIDIA（NYSE：NVDA），对指数的表现产生了更大的影响。相比之下，较小的成分，尤其是那些在底部400中排名的成分，重量明显较小。这些公司可能会定位共插的公司，通常仅占每个索引的0.01％至0.2％。

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

尽管个人影响力有限，但他们共同支持该指数的整体多元化。

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.

被添加到标准普尔500指数中为任何公司带来了一些好处。最直接的是对其股份的需求增加。之所以发生这种情况，是因为所有指数追踪基金（例如ETF和共同基金）可能会购买股票，通常会导致交易量增加，有时甚至以股价上涨。

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.

预计Coinbase股票的需求很高，因为几个大型机构需要购买它们以调整其投资组合。例如，Ishares Core S＆P 500（State Street）ETF的资产管理于4.46亿美元以上，并且需要购买Coinbase股票以维持其在标准普尔500标准普尔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，在其投资组合中包括Coinbase将需要调整许多其他机构，这些机构跟踪标准普尔500指数。最大的是Vanguard S＆P 500 ETF（纽约：VOO），拥有超过5000亿美元的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.

包容还可以吸引更多的机构投资者。许多资金仅限于仅在标准普尔500股股票上进行投资，因此加入指数可以吸引长期资本和更广泛的投资者利息。

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.

加密货币交易所最近同意以29亿美元的交易获得加密货币期权平台Deribit。该交易将包括7亿美元现金和1100万股Coinbase A类普通股。