Coinbase Joins S&P 500: A Crypto Milestone
Coinbase has made history by becoming the first crypto company to join the S&P 500. This move, announced by S&P Global on May 12, will take effect on May 19. Coinbase will replace Discover Financial Services, recently acquired by Capital One.
After the news, Coinbase’s shares (COIN) soared by 8.8% in after-hours trading. The exchange,founded in 2012,is the largest U.S.-based crypto platform. it has been listed on the Nasdaq as 2021. Despite a tough year for crypto stocks, Coinbase reported a net income of $65.6 million in Q1. Revenue also rose 24% year-over-year to $2.03 billion.
Coinbase CEO Brian Armstrong celebrated on X, saying, “Crypto is here to stay.” The company also posted a humorous message: “First they ignore you. Then they laugh at you. Then they fight you. Then they add you to the S&P 500.”
Inclusion in the S&P 500 usually increases a company’s visibility. Index-tracking funds must buy its shares. Coinbase now joins tech giants like Apple and Nvidia. It will be in the lower tier of the index,with a weighting between 0.01% and 0.2%. This milestone marks a significant moment for digital assets.
coinbase now shares S&P 500 status with Bitcoin holders like Tesla and Block. Strategy, however, missed out after posting a $4.2 billion net loss in Q1 2025.
