Coinbase Global (NASDAQ: COIN) is set to become the first company dealing in digital assets on the prestigious S&P 500 index. By becoming part of America’s exclusive group of 500 leading publicly traded firms, the San Francisco-based cryptocurrency exchange, which was the first important cryptocurrency company to go public in 2021, now achieves another milestone, the release said on May 12, 2025.
Discover Financial Services (NYSE: DFS) will join the benchmark index on May 19, 2025, following its acquisition by Capital One Financial.
As a result of the news, the Coinbase stock price ( NASDAQ: COIN) rose 11% in after-hours trading to almost $230, boosting its 4% rise during regular market hours. The company’s market capitalization may increase by more than $5 billion. Before the news, the company’s market capitalization was approximately $53 billion.
How Coinbase Joined the S&P 500
Companies on the S&P 500 must meet stringent standards, including a market capitalization of at least $18 billion, the majority of shares held by the public, profitability during the previous four quarters, and listing on a U.S. exchange. Despite recent difficulties, the Coinbase exchange complied.
Coinbase was profitable enough for inclusion in the index despite making $65 million, or 24 cents per share, less last week than it did the previous year. The company’s revenue climbed by 24%, from $1.64 billion to $2.03 billion.
Recent Initiatives
A few days before the announcement, Coinbase revealed plans to pay $2.9 billion to acquire Deribit, a prominent cryptocurrency derivatives exchange. The acquisition aims to expand Coinbase’s presence in the cryptocurrency options market and solidify its position as the world’s largest publicly traded cryptocurrency exchange.
Despite its shares losing over 17% in value since the start of 2025, it has also been aggressively growing its worldwide market reach and institutional investor base, which supports its growth strategy.
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