Written by May 12, 2025 — Coinbase, one of the largest cryptocurrency exchanges in the U.S., is officially being added to the S&P 500 index, replacing Discover Financial Services, which is currently in the process of being acquired by Capital One. The update will take effect before the market opens on May 19.
News of Coinbase’s inclusion sent its shares soaring by 8% in after-hours trading, adding to recent momentum in the crypto space.
This development comes just days after Bitcoin surged past $100,000, approaching the all-time high it set earlier this year. The recent price surge has reignited interest in the digital asset sector, further boosting the visibility of major players like Coinbase.
Coinbase went public in 2021 through a direct listing and has since become a prominent name in the evolving financial technology space. While the company’s stock has seen volatility — currently trading significantly below its late-2021 highs — its market capitalization remains strong at approximately $53 billion.
In its latest earnings report, Coinbase posted $65.6 million in net income and $2.03 billion in revenue, showing continued business growth despite industry fluctuations. It also announced a major international expansion move with a $2.9 billion acquisition of Deribit, a leading crypto derivatives exchange based in Dubai — marking the largest deal in the crypto sector to date.
The inclusion in the S&P 500 could provide a long-term boost for Coinbase, as funds and ETFs that track the index typically add new constituents to their portfolios.
While Coinbase stock is down roughly 17% year-to-date, Bitcoin has risen about 10%, underscoring the sometimes divergent performance of crypto assets versus crypto-related equities.
Editor’s Note:
To qualify for the S&P 500, companies must be U.S.-based, publicly traded, and profitable in recent quarters — a benchmark Coinbase has met following its recent financial disclosures.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research or consult a licensed financial advisor before making any investment decisions. We do not take responsibility for any financial outcomes based on the information provided.
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