Key Takeaways:
- Coinbase adds HBAR, MANTLE, VET, IMX, SEI, and FLR to the COIN50 Index in its latest quarterly rebalance.
- The update highlights rising institutional appetite for scalable L1s, enterprise tokenization, gaming infrastructure, and L2 networks.
- Rebalancing reflects shifting liquidity patterns as newer ecosystems gain market share across DeFi, RWAs, and Web3 gaming.
Coinbase Institutional’s newest rebalancing of the Coinbase 50 Index (COIN50) brings six fast-growing blockchain networks into one of the market’s key institutional benchmarks. The move underscores where capital is flowing and which ecosystems are building real traction in the current cycle.
With institutional trading volumes at Coinbase continuing to grow, the COIN50 update has become a reliable indicator of which networks are winning on-chain activity, liquidity depth, and investor attention.
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Why Coinbase Is Updating COIN50 Now
Coinbase’s COIN50 tracks the 50 most liquid and eligible digital assets listed on Coinbase Exchange. The index acts as a benchmark for institutional products such as index-linked ETPs and perpetual futures, making each rebalance significant for capital flows.
This quarter, the exchange added:
- Hedera (HBAR)
- Mantle (MANTLE)
- VeChain (VET)
- Immutable (IMX)
- Sei Network (SEI)
- Flare (FLR)
These assets now join COIN50 after demonstrating higher liquidity, improved market depth, and sustained user activity across their respective ecosystems.
A Sign of Expanding Institutional Interest
Institutional capital has increasingly been rotating beyond legacy assets like Bitcoin and Ethereum into sectors showing real-world progress:
- Enterprise tokenization
- Ethereum Layer-2 scalability
- Web3 gaming infrastructure
- High-performance trading chains
- Cross-ecosystem smart contract networks
The addition of these tokens to COIN50 confirms that these verticals are no longer niche, they’re emerging as investable categories for funds seeking diversified exposure.
What Each New Token Brings to the Index
Hedera (HBAR): Enterprise Tokenization Gains Momentum
Hedera remains popular due to its take on enterprise-level digital asset issuance. Its governing council, which is a group of multinational corporations, has been growing its usage in supply chains and digital identity and token identity services.
The addition of HBAR is an indicator of increased acceptance of enterprise blockchain networks in which the activity is supported by corporate sponsors rather than the specifications of retail-oriented speculation.
Mantle (MANTLE): Modular L2 Scaling Enters the Spotlight
Mantle introduces an Ethereum Layer-2 architecture that is modular and splits execution, data availability and settlement. This architecture is also popular among designers who want to pay fewer fees without compromising a level of security like Ethereum.
The growth of Layer-2 has been closely monitored by the institutional investors, so the entrance of Mantle was observed as capital flows toward L2s with active adoption and regular liquidity.
VeChain (VET): Real-world Asset Tracking Shows Renewed Relevance
VeChain continues expanding its footprint in sectors such as supply chain management, VeChain is still increasing its reach in the areas of supply chain management, sustainability reporting, and authentication services.
Its tools connect the real and digital assurance of assets and as a result, VET is one of the limited networks that have been integrated with enterprises over time, a focus that institutions have been examining as part of the wider narrative of tokenization.
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Web3 Gaming and High-Performance Chains Gain Ground
Immutable (IMX): Infrastructure for Blockchain Gaming
Immutable is one of the best ecosystems that power the Web3 gaming and provides developers with the ability to create marketplaces, NFTs, and in-game economies. As multiple high-profile gaming studios announced Web3 integrations, the liquidity of IMX led it to become a good candidate to be included in COIN50. This shift of the sector towards speculation to real user onboarding is probably one of the motivations of Coinbase currently adding Immutable to the index.
Sei (SEI): A Trading-focused L1 Built for Speed
Sei is built to run in high-speed mode, which places it as a “parallelised L1” to be used in trading, perpetual exchanges and order-book-like applications. Since decentralized exchanges and derivatives protocols keep going up in scale, the performance-first architecture of Sei has attracted developers and liquidity alike. Its introduction matches institutional desire for next-generation infrastructure to support on-chain trade volumes.
Flare (FLR): Smart Contracts for Non-EVM Networks
Flare makes it possible to create smart contracts on systems that lacked native programmability, the most notable one being XRP. As the concept of cross-chain interoperability became indispensable to institutional products, FLR data availability and network bridging tools became a timely addition.