Key Points:
- Coinbase is going to launch the Coinbase 500 index, taking a cue from the S&P 500 index.
- According to CEO Brian Armstrong, the organization is still waiting due to regulatory hurdles that may pop up.
- For Q2 2024, Coinbase posted strong earnings with $1.4 billion in revenues and a net income amounting to $36 million.
The biggest US-based cryptocurrency exchange, Coinbase, is aiming to venture into a novel business aspect: holding a cryptic index fund dubbed Coinbase 500.
Read more: Coinbase Tokenized Fund Is Being Planned For RWA’s New Boom
Coinbase to Launch Coinbase 500 Index
The exchange plans to go into the crypto index fund with the Chief Executive Officer, Brian Armstrong, who made this ambitious revelation during the company’s recent earning call, comparing the Coinbase 500 index with that of the S&P 500, whose tracker constitutes the 500 top US companies based on their market capitalization.
According to DL News, Armstrong was optimistic about what the Coinbase 500 index could do for the crypto market. “We’d ultimately like to see a path where we could start to get index funds — retail products — in the crypto space,” he said. But even as he painted that vision of a possible future, he tempered the optimism by saying that regulatory hurdles stood in the way, adding, “I don’t see any path to do it in the near term.”
A Coinbase Showing of Strength in Q2 Earnings Despite Regulatory Headwinds
Coinbase‘s announcement comes as the US regulatory outlook for cryptocurrencies is finally changing. Indeed, a set of events over recent weeks—in which the Securities and Exchange Commission approved spot Ethereum exchange-traded products—marked the turn for regulators to be more friendly, with political winds at the crypto community’s back, now including the joined chorus by presidential candidate Donald Trump, against incumbent SEC Chair Gary Gensler’s rough stance on crypto regulation.
Coinbase reported the second-quarter 2024 earnings, showing a strong financial performance as it piled up $1.4 billion in total revenue with a net income of $36 million. The report called for regulatory clarity, with 90% of institutional investors acknowledging it as good for their confidence in investing in crypto.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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News
Coinbase 500 Index Planned for Upcoming Launch
Key Points:
- Coinbase is going to launch the Coinbase 500 index, taking a cue from the S&P 500 index.
- According to CEO Brian Armstrong, the organization is still waiting due to regulatory hurdles that may pop up.
- For Q2 2024, Coinbase posted strong earnings with $1.4 billion in revenues and a net income amounting to $36 million.
The biggest US-based cryptocurrency exchange, Coinbase, is aiming to venture into a novel business aspect: holding a cryptic index fund dubbed Coinbase 500.
Read more: Coinbase Tokenized Fund Is Being Planned For RWA’s New Boom
Coinbase to Launch Coinbase 500 Index
The exchange plans to go into the crypto index fund with the Chief Executive Officer, Brian Armstrong, who made this ambitious revelation during the company’s recent earning call, comparing the Coinbase 500 index with that of the S&P 500, whose tracker constitutes the 500 top US companies based on their market capitalization.
According to DL News, Armstrong was optimistic about what the Coinbase 500 index could do for the crypto market. “We’d ultimately like to see a path where we could start to get index funds — retail products — in the crypto space,” he said. But even as he painted that vision of a possible future, he tempered the optimism by saying that regulatory hurdles stood in the way, adding, “I don’t see any path to do it in the near term.”
A Coinbase Showing of Strength in Q2 Earnings Despite Regulatory Headwinds
Coinbase‘s announcement comes as the US regulatory outlook for cryptocurrencies is finally changing. Indeed, a set of events over recent weeks—in which the Securities and Exchange Commission approved spot Ethereum exchange-traded products—marked the turn for regulators to be more friendly, with political winds at the crypto community’s back, now including the joined chorus by presidential candidate Donald Trump, against incumbent SEC Chair Gary Gensler’s rough stance on crypto regulation.
Coinbase reported the second-quarter 2024 earnings, showing a strong financial performance as it piled up $1.4 billion in total revenue with a net income of $36 million. The report called for regulatory clarity, with 90% of institutional investors acknowledging it as good for their confidence in investing in crypto.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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