{"id":40772,"date":"2021-04-14T20:27:00","date_gmt":"2021-04-14T17:27:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=40772"},"modified":"2025-08-30T15:41:12","modified_gmt":"2025-08-30T12:41:12","slug":"coinbase-shares-begin-trading-on-nasdaq-market-capitalisation-tops-100bn","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-shares-begin-trading-on-nasdaq-market-capitalisation-tops-100bn\/","title":{"rendered":"Coinbase shares begin trading on Nasdaq; market capitalisation tops $100bn"},"content":{"rendered":"<p>On April 14, Coinbase&#8217;s direct listing on Nasdaq took place. The opening price <a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/coin\/real-time\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">stood at<\/a> $381.<\/p>\n<p>At the start of trading, COIN traded up to $429.54. The exchange&#8217;s market capitalisation surpassed $100 billion, <a href=\"https:\/\/companiesmarketcap.com\/exchanges\/largest-exchanges-by-market-cap\/\" target=\"_blank\" rel=\"noreferrer noopener\">making it the most highly capitalised exchange in the world<\/a> \u2014 larger than the New York Stock Exchange and Nasdaq itself. <\/p>\n<div class=\"wp-block-text-wrappers-update article_update\"><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Trading closed at $328.28 (\u221213.9% from the open). The session&#8217;s low was $310, the high \u2014 $429.54. Market capitalisation fell to around $85.7 billion. <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1023\" height=\"684\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Ey9hpIzWYAcNlS9.jpeg\" alt=\"Coinbase shares begin trading on Nasdaq; market capitalisation tops $100bn\" class=\"wp-image-131824\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Ey9hpIzWYAcNlS9.jpeg 1023w, https:\/\/u1f987.com\/wp-content\/uploads\/Ey9hpIzWYAcNlS9-300x201.jpeg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Ey9hpIzWYAcNlS9-768x514.jpeg 768w\" sizes=\"auto, (max-width: 1023px) 100vw, 1023px\" \/><figcaption>This was the largest direct listing in history. Data: The Block Research. <\/figcaption><\/figure>\n<\/div>\n<p>On the eve of listing, Nasdaq <a href=\"https:\/\/u1f987.com\/en\/news\/nasdaq-sets-reference-price-for-coinbase-shares-at-250\">set Coinbase&#8217;s reference price at $250<\/a>, implying a market capitalisation of $66 billion. On FTX, traders valued COIN at more than $620. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhen we started Coinbase in 2012, Bitcoin was $6. Almost no one, except internet nerds, knew anything about it. Bitcoin was a crazy idea that involved creating digital money for everyone,\u201d wrote co\u2011founder Fred Ehrsam.<\/p>\n<\/blockquote>\n<p>On listing day, Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-clears-64000-as-ethereum-climbs-above-2350\">surpassed $64,000<\/a>, and the total market capitalisation was $2.3 trillion. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is still the beginning. 1% of the most important technology of the coming decades. Cryptocurrencies will change money and information, and the world rests on them.\u201d<\/p>\n<\/blockquote>\n<p>Coinbase <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-memorialises-nasdaq-listing-with-a-nod-to-the-bitcoin-genesis-block\">immortalised its listing in the Bitcoin blockchain<\/a>. The mining pool F2Pool included in block #679187 the headline of The New York Times article \u201cHouse Gives Final Approval to Biden\u2019s $1.9T Pandemic Relief Bill Mine\u201d from March 10, 2021. This is a nod to the genesis block. <\/p>\n<p>And this is how Coinbase was welcomed on Nasdaq. The countdown began at 21 seconds, a nod to 21 million bitcoins.<\/p>\n<p><script async=\"\" src=\"https:\/\/telegram.org\/js\/telegram-widget.js?14\" data-telegram-post=\"forklog\/18672\" data-width=\"100%\"><\/script><\/p>\n<p>Trading of COIN tokenised shares will <a href=\"https:\/\/u1f987.com\/en\/news\/binance-to-list-tokenised-coinbase-stock-tokens\">be available on Binance<\/a> and is already available on FTX in the form of contracts. The latter converts COIN\/USDT futures into tokenised shares after the first trading session. <\/p>\n<div class=\"wp-block-text-wrappers-update article_update\"><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Binance postponed the listing of COIN indefinitely due to market volatility. Trading opened only a day later \u2014 April 15. <\/p>\n<\/div>\n<p>In the run-up to the event, each of Coinbase&#8217;s 1,700 full-time employees <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-gives-100-shares-to-each-employee-ahead-of-direct-listing\">received 100 shares as a gift<\/a>. The community has already calculated that this is significantly more than the exchange had ever allocated to Bitcoin developers in grants.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Imagining a $25M bitcoin dev fund<\/p>\n<p>\u2014 Jeremy Ru\u24d1in (@JeremyRubin) <a href=\"https:\/\/twitter.com\/JeremyRubin\/status\/1382329939022680069?ref_src=twsrc%5Etfw\">April 14, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Read more about Coinbase&#8217;s business and prospects in our feature. <\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On April 14, Coinbase&#8217;s direct listing on Nasdaq took place. The opening price stood at $381.<\/p>\n","protected":false},"author":1,"featured_media":40773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138,768],"class_list":["post-40772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-nasdaq"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=40772"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40772\/revisions"}],"predecessor-version":[{"id":40774,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40772\/revisions\/40774"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/40773"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=40772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=40772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=40772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}