Coinbase Global Inc. (NASDAQ: COIN) is set to join the S&P 500 index on May 19, 2025, replacing Discover Financial Services (NYSE: DFS), which is being acquired by Capital One Financial Corp.
Following the announcement, Coinbase shares surged over 9% in after-hours trading, reflecting investor enthusiasm for the company’s inclusion in the benchmark index.
This milestone marks the first time a cryptocurrency-focused company has been added to the S&P 500, signaling a significant step in the integration of digital assets into mainstream finance.
Coinbase’s inclusion comes after demonstrating consistent profitability and a market capitalization of approximately $50.8 billion. The company’s addition to the index is expected to increase its visibility among investors and may lead to greater investment from funds that track the S&P 500.
Discover Financial Services is being removed from the index due to its pending acquisition by Capital One, a deal valued at $35.3 billion.
Coinbase’s ascent to the S&P 500 underscores the growing acceptance of cryptocurrency enterprises within traditional financial markets.
