Coinbase is finally entering the S&P 500 index, which indicates Crypto is opening up the financial sector’s inner chasm. Wisdom Tree revealed the information.
The ETF company observed that crypto exchange is now a core component of the US financial markets. Coinbase has already met the critical S&P 500 entry criteria.
According to Dovile Silenskyte, the director of digital assets research, the entry criteria are highly selective. The niche criteria match the US corporate class’s vigour, stability, and liquidity.
According to the director, Coinbase made a grand entry into the class, ticking every checkbox with conviction. She further mentioned that Coinbase’s joining the elites is more than symbolic. Instead, it is a structural endorsement cemented Crypto’s standing in the core structure of the US financial system.
This firm’s standing came at a strategic time. Recently, BTC broke the resistance point of $1,00,000, making the Bitcoin market bullish again.
The altcoin Season is Also Here.
In the meantime, altcoins are also gaining heavy traction. The sequence of capital inflows has already started. Names like Solana, XRP, and Ether are drawing fresh investor interest, too.
Amidst this investor enthusiasm, Coinbase’s addition to the S&P 500 has turned the tables. The company is now ranked equal to Apple, Microsoft, JPMorgan, and others, helping the inflow of trillions of dollars into the S&P 500 index.
