It’s not a meme anymore. The institutions are coming for your bags, and buying them just got a whole lot easier after Coinbase announced its new Coinbase 50 Index for institutional and Advanced users!
As the crypto market booms following Donald Trump’s reelection last week, Coinbase has introduced a new way for institutional investors to gain exposure to the broader crypto market with the Coinbase 50 Index—a basket of the top 50 tokens in the crypto industry.
This index is similar to the S&P 500 for stocks—a familiar benchmark for many institutional investors. But instead of companies like Tesla, Apple, and Facebook, the Coinbase 50 Index features coins such as Bitcoin, Ethereum, Solana, Dogecoin, ApeCoin, and more.
“Crypto curious investors can be overwhelmed by the nuances of the digital asset market,” the exchange wrote in its Coinbase 50 Index whitepaper. “The price swings and complex technological jargon can be off putting for the uninitiated, who frequently don't have the time to analyze every name in this burgeoning asset class. That’s where the Coinbase 50 Index comes in. Instead of picking individual tokens, an investor can own the index, which automatically and dynamically selects the top 50 crypto assets based on clear rules. With one simple step, they can gain diversified exposure to the growing crypto market, giving them confidence and peace of mind.”
The Coinbase 50 Index is broken down into several categories, including smart contract platforms, store-of-value tokens, memecoins, payments, DeFi, DePIN, computing platforms, and media and entertainment—which includes ApeCoin!
Following the announcement, $Ape holders and Apes from around the swamp flooded the timeline with posts about being included in Coinbase’s index. Many notable Apes werw tweeting that $Ape’s best days are ahead and that ApeChain might be one of the most undervalued ecosystems in all of crypto.
“COINBASE 50 INDEX FUND Month of October returns per token. $ape had the 3rd best return on the list,” Former Special Council member and Apechain Banana Bill Advisor Captain Trippy tweeted after today’s announcement.
“In Sept. I wrote a long thread about where we are now and why I/we need to think in terms of the next 12-18 months and not the last. Put the past in the past. We are here.”
For more information on the Coinbase 50 Index, check out the whitepaper: https://coinbase.bynder.com/m/4c9b432ac509f44e/original/CB-Institutional-COIN50-Index.pdf
The Bored Ape Gazette will continue to monitor the Coinbase 50 Index and its impact on $Ape. Stay tuned for updates!
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