Crypto giant Coinbase Global (NASDAQ: COIN) is about to achieve a significant milestone, becoming the first crypto-focused firm ever included in the S&P 500 index. This groundbreaking event is set for May 19, 2025, marking a major achievement not just for Coinbase but for the entire cryptocurrency sector.
Coinbase’s inclusion follows the removal of Discover Financial Services (DFS), which was recently acquired by Capital One Financial Corp. (COF). S&P Global officially confirmed this notable shift on May 12.
The S&P 500 is a prestigious index featuring the 500 largest publicly traded companies in the United States, widely regarded as a barometer for overall U.S. stock market performance. Coinbase’s entry signals growing acceptance and recognition of cryptocurrency firms within mainstream finance.
As a direct consequence, Coinbase’s shares are likely to see increased demand. Index funds and exchange-traded funds (ETFs) that track the S&P 500 will need to purchase Coinbase stock to mirror the composition of the index, potentially driving significant new capital into COIN shares.
Following the announcement, Coinbase shares surged 8.8% to $225.40 in after-hours trading, according to Google Finance data. By the end of the trading day on March 12, shares had risen an additional 4%, bringing Coinbase’s market cap to an impressive $52.8 billion.
Coinbase CFO Alesia Haas described this event as “a major milestone for Coinbase and a landmark moment for the cryptocurrency industry as a whole.”
“Being part of this respected index highlights how far Coinbase and the crypto industry have advanced, clearly showing the direction the world is moving towards.” – Alesia Haas, Coinbase CFO
Coinbase now joins other prominent Bitcoin holders such as Tesla (TSLA) and Block Inc. (SQ) already represented in the index.
Notably, Bitcoin-focused firm MicroStrategy (NASDAQ: MSTR) was also considered a candidate last year. However, inclusion in the S&P 500 requires companies to have recorded profitability in both the previous calendar year and the most recent quarter, criteria MicroStrategy has yet to meet due to a reported $4.2 billion loss in the first quarter of 2025.
Additionally, firms must meet stringent criteria including trading on major U.S. exchanges such as the NYSE or Nasdaq, generating at least half of their revenue domestically, and maintaining a market cap of at least $18 billion—all of which Coinbase comfortably satisfies.
Coinbase’s landmark inclusion underscores the growing mainstream integration of crypto and sets a promising precedent for the broader digital asset market.
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