Coinbase Global Inc. (NASDAQ: COIN) is set to become the first cryptocurrency company included in the S&P 500 index, effective before trading opens on Monday, May 19, 2025. The crypto exchange will replace Discover Financial Services, which is being acquired by Capital One Financial Corp.
The inclusion of Coinbase in the S&P 500 signifies a significant milestone for the cryptocurrency sector, reflecting its growing integration into mainstream financial markets. As a result, index funds and exchange-traded funds (ETFs) that track the S&P 500 will incorporate Coinbase shares into their portfolios, potentially increasing demand for the stock.
Following the announcement, Coinbase’s stock experienced a notable uptick, rising 8.8% in after-hours trading to $225.40. During the regular trading session, the stock closed at $207.22, up nearly 4% from the previous close. As of May 13, 2025, Coinbase’s stock price stands at $234.84.
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Coinbase’s addition to the S&P 500 comes amid a broader acceptance of digital assets in traditional finance. The company’s inclusion is expected to further legitimize the cryptocurrency industry and may pave the way for other crypto-focused firms to enter major financial indices in the future.
The S&P 500 is a market-capitalization-weighted index comprising 500 of the largest publicly traded companies in the United States. Coinbase’s inclusion reflects its substantial market capitalization and its role as a leading platform for cryptocurrency trading and services.
This development underscores the evolving landscape of the financial industry, where digital assets and traditional finance continue to converge.
