Following its $2.9 billion acquisition of crypto derivatives platform Deribit, Coinbase Global Inc. is set to become the first digital asset company ever added to the prestigious S&P 500 index, effective 19 May 2025.
Shares of Coinbase (COIN) jumped on Monday evening after the announcement that the San Francisco-based exchange will join the benchmark index.
The move comes as Discover Financial Services exits the S&P 500 following its acquisition by Capital One Financial.
To qualify for the S&P 500, companies must meet strict criteria, including a market capitalisation of at least $18 billion, strong liquidity, and four consecutive quarters of positive earnings under GAAP.
Despite recent financial setbacks, including a drop in first-quarter profit and a decline in revenue for 2025, Coinbase has maintained its profitability, a key requirement for entry into the S&P 500.
The company's latest net income was $65.6 million, down from $1.18 billion a year earlier, but still enough to meet the index's stringent standards.
This achievement secured its spot in the index, especially after being overlooked in previous rebalancings.
S&P Dow Jones Indices confirmed that Coinbase would replace Discover Financial Services, which is exiting the index as Capital One (COF) prepares to finalise its acquisition of the company by 18 May.
Source: S&P Global
The index committee typically removes companies involved in mergers or acquisitions and replaces them with eligible firms that meet all listing requirements.
After the announcement, Coinbase's stock surged over 9% in extended trading, reaching $226.15 per share.
In regular trading earlier on Monday, the stock had already gained nearly 4%.
The surge marks a significant moment for Coinbase, particularly as it positions itself within the same benchmark index as traditional tech giants.
The announcement arrives as Bitcoin trades above $100,000, renewing optimism in digital assets.
Coinbase, the largest crypto exchange in the U.S. by trading volume, debuted on the Nasdaq in 2021, and despite experiencing a 17% decline in its stock in 2025, the company continues to demonstrate resilience.
The stock's rise after the announcement indicates that its inclusion will likely attract more investors, particularly index-tracking funds that are mandated to buy S&P 500 constituents.
Celebrating the milestone, Coinbase shared on X:
"First they ignore you.
Then they laugh at you.
Then they fight you.
Then they add you to the S&P 500."
Coinbase’s addition to the S&P 500 aligns with the index's growing tech-heavy composition.
Major companies in the index, such as Dell and Palantir, represent sectors closely related to technology and innovation.
Coinbase now joins their ranks, illustrating the increasing impact of digital currencies on the global financial system.
As Coinbase prepares for its inclusion on 19 May, all eyes will be on the broader implications for the cryptocurrency industry and its integration with traditional financial markets.
A 32-year-old Singaporean was arrested in Thailand for his role in a cryptocurrency scam that defrauded investors of 22.4 million baht. The scam involved a fake trading platform that tricked victims into transferring money to fraudulent accounts controlled by a criminal network.
AnaisWeChat has shut down 209 accounts involved in using AI to impersonate celebrities for fraudulent marketing, following multiple user reports. The platform removed 532 pieces of deceptive content and vowed to strengthen measures against AI-driven scams.
JoyAfter her accomplices threatened to cut off her date's fingers, forcing him to transfer $40,000 in BTC, the woman pleaded guilty. Yet, the court issued only a 30-month community corrections order, citing “exceptional circumstances.” Was gender bias a factor in this lenient sentence?
CatherineLearn the top 7 factors that influence Bitcoin cryptocurrency price and how to understand them to help you make better BTC price predictions.
AlexNigeria's EFCC arrested 792 suspects in Lagos, dismantling a cybercrime ring operating out of the Big Leaf Building, which was used for romance scams and fraudulent cryptocurrency schemes. The suspects, including foreign nationals, were found using high-tech equipment to deceive victims worldwide, primarily in the US, Canada, and Europe.
JoyTravala (AVA) surged 300% after CZ revealed Binance’s early investment and the platform’s $100 million in annual revenue. However, with AVA's price dipping nearly 15%, can Travala make a comeback and deliver a holiday miracle?
CatherineCyberKongz recently received a Wells Notice from the SEC regarding NFTs and ERC-20 tokens. The collection has been critical of the current administration's crypto stance and is now focused on advocating for clearer, more transparent regulations in the NFT space.
CatherineThe SEC has issued Wells Notices to both Unicoin and CyberKongz, accusing them of fraud and unregistered securities violations. Unicoin plans to fight the charges, while CyberKongz disputes the SEC’s claims, calling them a misunderstanding of blockchain technology.
AnaisLido has stopped new staking on Polygon, but users can withdraw staked MATIC until 16 June 2025. The move follows low adoption and Lido's strategic focus on Ethereum.
KikyoScammers are targeting crypto investors through social media platforms like YouTube, WhatsApp, and Telegram, offering fake trading advice and fraudulent investment schemes. They lure victims with fake platforms, celebrity endorsements, and manipulated interactions, leading to significant financial losses.
Weatherly