Coinbase Global (COIN) will officially be added to the S&P 500 index on May 19, 2025, replacing Discover Financial Services, which is exiting the index following its merger with Capital One. This move marks a historic first: Coinbase becomes the first crypto-native company to be included in the prestigious U.S. stock benchmark.
Following the announcement, Coinbase shares surged by 24%, closing at $256.90. Analysts view the inclusion as a major signal of mainstream financial acceptance for the crypto sector. According to Reuters, the market responded with enthusiasm, pushing crypto-related stocks higher across the board.
S&P Global confirmed the change in a press release, noting that the index adjustment will take effect prior to market open on May 20.
Industry analysts project that index-tracking funds may have to purchase up to $1.6 billion worth of COIN shares, creating a wave of institutional demand (CoinDesk).
Investment bank Oppenheimer raised its price target for COIN to $293, citing the expected inflows and growing institutional interest (Investopedia).
