Coinbase Global Inc, one of the most important Bitcoin exchanges in the world, has received approval from the US Securities and Exchange Commission to list the Nasdaq stock index directly on the stock exchange Reuters. Trading is expected to begin on April 14th under the ticker symbol “COIN”.
Reaching the public markets through Coinbase is a critical step for the Bitcoin industry. As one of the oldest Bitcoin exchanges in the US, launched in June 2012, Coinbase has 43 million verified users worldwide and $ 90 billion worth of assets held on the platform. Coinbase’s entry into the public market is a new milestone for an industry that continues to grow and gain mainstream acceptance.
For Coinbase pre-IPO contracts, which trade on FTX under the ticker “CBSE”, the company has a market capitalization of $ 116.75 billion at the time of writing. This underscores the very optimistic sentiment and the high expectations investors have of Coinbase. Goldman Sachs, a pillar of the existing financial system, is valued at the time of writing with a market cap of $ 112.35 billion.
Industry experts expect Coinbase to be the first dominoes, and many other industry leaders will follow shortly after.