Coinbase Makes History as First Crypto Company to Join S&P 500
Coinbase Global (NASDAQ: COIN) is poised to become the first cryptocurrency company to join the esteemed S&P 500 index on May 19 in a
Quick overview
- Coinbase Global is set to become the first cryptocurrency company to join the S&P 500 index on May 19, marking a historic milestone for the sector.
- The announcement led to a significant surge in Coinbase's stock, increasing over 10% in after-hours trading and boosting its market valuation to approximately $53 billion.
- Coinbase's inclusion in the S&P 500 is seen as a major step towards mainstream acceptance of cryptocurrencies, especially following Bitcoin's recent rise above $100,000.
- The company has also recently announced a $2.9 billion acquisition of Deribit, which will enhance its global presence in the crypto market.
Coinbase Global (NASDAQ: COIN) is poised to become the first cryptocurrency company to join the esteemed S&P 500 index on May 19 in a historic event for the sector.
Made on May 12, the statement by S&P Global sent Coinbase’s stock skyrocketing over 10% in after-hours trading, adding to its almost 4% increase during regular trading hours. With extended trading, the shares closed at $207.22 then surged to roughly $228, thereby determining the company’s market valuation to be roughly $53 billion.
A Landmark for Crypto’s Mainstream Acceptance
“Thank you to everyone who made it possible for a crypto company to join the S&P 500 for the first time in history,” Coinbase said on social network X.
For the business as well as the larger crypto sector, Coinbase Chief Financial Officer Alesia Haas said the inclusion marks a “major milestone”. “Joining this outstanding index reflects how far Coinbase and the industry have come and is a signal of where the world is heading,” she said.
Especially noteworthy is Coinbase’s timing: it approaches its record price from January 2025 just days after Bitcoin exceeded the $100,000 barrier last week. Right now, BTC/USD is trading for about $102,980 and up over 10% year-to- date.
Coinbase’s Path to Eligibility
With a combined market capitalization of almost $50 trillion and 500 of the biggest publicly traded companies in the United States tracked on the S&P 500, Coinbase’s inclusion there is expected to boost demand for its stock. To reflect the index composition, index funds and ETFs tracking the S&P 500 will have to buy COIN shares.
Despite legal obstacles, Coinbase has become even more important in the American financial system since its direct IPO in 2021. Recently, the Securities and Exchange Commission abandoned its lawsuit against the company in February 2025, therefore giving the exchange a notable triumph.
“Imagine fighting the SEC for years, just months later rising to the S&P 500. Bitwise Head of Alpha Strategies Jeff Park commented, “There is no more worthy steward of this victory than Coinbase.”
Brian Armstrong, CEO of Coinbase, stressed that this marks “crypto is here to stay.”
Companies must be listed on significant U.S. exchanges, have a market capitalization above $18 billion, produce at least half their income in the U.S., and show profitability in the most recent quarter and calendar year to be eligible for the S&P 500. Though this was a marked drop from $1.18 billion in the same quarter last year, Coinbase revealed first-quarter net income of $65.6 million last week.
The biggest deal in the crypto market to date, the $2.9 billion acquisition of Dubai-based Deribit, a significant crypto derivatives platform, also lately revealed by the crypto exchange. Expected to finalize before year-end, this acquisition will enable Coinbase increase its worldwide presence.
Leading corporate Bitcoin holdings in the index, Coinbase will be joining Tesla and Block Inc. Another Bitcoin-stacking company, Strategy, is off-limits even after showing a financial loss of $4.2 billion in Q1 2025.
Including Coinbase on the S&P 500 signals a turning point for the acceptance of cryptocurrencies into mainstream finance and might raise crypto acceptability among conventional investors.
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