Coinbase Global Inc, one of the most significant Bitcoin exchanges in the world, has received approval from the U.S. Securities and Exchange Commission (SEC) to go public on the Nasdaq stock market index through a direct listing, according to Reuters. It’s expected to start trading on April 14 under the ticker symbol “COIN”
Coinbase hitting public markets is a momenumantal move for the Bitcoin industry. As one of the longest-standing bitcoin exchanges in the United States, having launched in June 2012, Coinbase has 43 million verified users globally, and $90 billion worth of assets custodied on the platform. Coinbase entering the public market is a new milestone for an industry that continues to grow and gain mainstream acceptance.
Coinbase pre-IPO contracts, trading on FTX under the ticker “CBSE,” currently have the company valued at a market capitalization of $116.75 billion at the time of writing. This highlights the very bullish sentiment and high expectations for Coinbase from investors. For context, Goldman Sachs, a mainstay in the legacy financial system, is valued at a market capitalization of $112.35 billion at the time of writing.
Industry experts expect Coinbase to be the first domino, with many other industry leaders to follow shortly thereafter.