Coinbase Could See Up To $16B Net Inflows After S&P 500 Entry: Bernstein
Bernstein on Tuesday issued a bullish note on Coinbase Global Inc. (NASDAQ:COIN) following its inclusion in the S&P 500, projecting as much as $16 billion in potential capital inflows to the stock from both passive and active investment vehicles.
What Happened: The note arrives just a day after the exchange announced that Coinbase will replace Discover Financial Services (NYSE:DFS) in the index on May 19, making it the first cryptocurrency-focused company to join the benchmark.
In its analysis, Bernstein estimates that passive S&P 500-linked ETFs and non-ETF funds could drive approximately $9 billion in inflows into Coinbase.
An additional $7 billion is projected from active managers benchmarked to the S&P 500 who may now be compelled to take positions in the stock. …
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