Invested ark CEO Wood Cathie applauding Coinbase Global Inc. COIN On its inclusion in the S&P 500 index, marking the first cryptocurrency company to reach this stage.
What happened: Wood responded to CEO Coinbase Brian ArmstrongThe announcement of congratulations and society for X, calling for “well -deserved” recognition.
She noted that if active managers like ARK invest in basic research rather than index suppliers to select the actions, the inclusion of Coinbase in a major index would oblige the monitoring funds of the index to take note. “Managers sensitive to the index will be forced to consider the documents now,” wrote Wood.
The S&P 500 addition represents a moment of the watershed for the legitimacy of cryptocurrency in traditional finance, potentially forcing the managers of index funds to allocate capital to the space of digital assets.
Armstrong underlined this achievement as validation that “the crypto is there to stay”, reflecting the growing increasing acceptance of the asset class despite its historically volatile nature.
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Disclosure: 82% of CFD retail accounts lose money
Why it matters: Wood has maintained an exceptionally optimistic perspective on the markets of cryptocurrencies, recently reiterating the forecast of Ark Bitcoin BTC / USD Reaching between $ 700,000 and $ 750,000 by 2030 in its basic case, with a bull’s lens of 1.5 million dollars.
It attributes this spectacular growth potential to the capacity of Bitcoin to capture the market share of gold, increasing institutional adoption and emerging market applications.
This inclusion of S&P 500 intervenes in the middle of aggressive enlargement efforts in Coinbase, including its recent acquisition of $ 2.9 billion in the Disbody of Crypto options and the launch of the negotiation 24/7 for Bitcoin and Ethereum ETH / USD The term contracts through its exchange regulated by the Commodity Futures Trading Commission, which makes it the first regulated American exchange to provide 24ch / 24 access to cryptographic derivatives with leverage.
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