Coinbase Joins S&P 500, Shares Surge

Coinbase Global has joined the S&P 500, effective May 19, 2025, becoming the first dedicated cryptocurrency company included in the index.

This inclusion signifies crypto’s growing acceptance in traditional finance, boosting Coinbase’s market presence and stock value by approximately 8%.

Coinbase Replaces Discover in the S&P 500 Index

Coinbase Global’s inclusion in the S&P 500 represents a pivotal development for the cryptocurrency industry. This change marks the first time a dedicated crypto company enters this prestigious index.

S&P Global announced Coinbase would replace Discover Financial Services, following its acquisition by Capital One Financial. Coinbase’s leadership, highlighted by CEO Brian Armstrong’s tenure, underscores the company’s expansive growth.

“Coinbase joins the S&P 500, another summit scaled on Coinbase’s drive towards economic freedom,” said Brian Armstrong, CEO of Coinbase. Coinbase Blog

Coinbase Shares Surge Up to 8.8% Post-Announcement

The announcement led to a notable rise in Coinbase’s stock, climbing between 7% and 8.8% in after-hours trading. Index funds tracking the S&P 500 are now required to buy Coinbase shares.

The inclusion signifies substantial financial opportunities for Coinbase, enhancing its liquidity and demand. The move also reflects increased institutional interest in cryptocurrency assets.

First Crypto Firm in S&P 500, Influences Bitcoin

Coinbase’s inclusion follows similar historic precedents where major US companies increased Bitcoin holdings, signaling mainstreaming of crypto entities. No other crypto exchange has been included before.

This milestone could result in broader market impacts, potentially influencing Bitcoin and Ethereum values. Historical trends suggest increased confidence and institutional engagement within the sector.