Coinbase Global (NASDAQ: COIN) is set to make history on May 19 as the first cryptocurrency-native company to be included in the S&P 500—one of the world’s most widely followed equity indexes. The crypto exchange will replace Discover Financial Services, which is being acquired by Capital One.
The S&P 500 tracks the 500 largest publicly traded U.S. companies by market capitalization and serves as a core benchmark for institutional investors and index-tracking funds. Coinbase’s inclusion means that millions of passive investors will gain indirect exposure to the crypto industry through COIN shares.
While the company is expected to occupy a relatively small position in the index—with an estimated weighting between 0.01% and 0.2%—its addition is anticipated to boost demand and increase daily trading volume for the stock. Analysts suggest the move could help deepen institutional participation in the crypto sector and further solidify the role of digital asset platforms in traditional finance.
Coinbase’s S&P 500 debut marks a key inflection point in the evolving relationship between Wall Street and the crypto industry. Although the exchange has been publicly traded since its April 2021 Nasdaq listing, this milestone signals a new level of legitimacy and mainstream recognition.
Coinbase Stock Jumps After S&P 500 Inclusion News
Following the announcement, shares of Coinbase surged nearly 9% in after-hours trading on Monday. During regular market hours, COIN stock climbed 4%, bringing the company’s market capitalization to approximately $52.8 billion, according to Google Finance.
Coinbase Chief Financial Officer Alesia Haas called the news a defining achievement for the company and the broader digital asset ecosystem.
“Being added to the S&P 500 is a major milestone,” Haas said.
“Joining this prestigious index reflects how far Coinbase and the industry have come and is a signal of where the world is heading.”
Coinbase Joins Elite Group of Bitcoin-Holding S&P 500 Firms
With its inclusion, Coinbase joins a select group of S&P 500-listed companies that hold Bitcoin on their balance sheets—alongside Tesla (TSLA) and Block Inc. (SQ). The move underscores the growing convergence between digital assets and the traditional financial world.
Notably, Strategy (formerly MicroStrategy), one of the largest corporate Bitcoin holders, has not yet qualified for S&P 500 inclusion. While Strategy meets key listing criteria—including U.S. exchange trading, a domestic revenue base, and a market cap above $18 billion—it failed to meet the index’s profitability requirements, reporting a $4.2 billion net loss in Q1 2025.
S&P 500 eligibility rules require that companies post a profit in the most recent fiscal year and the latest quarter. Coinbase has now successfully met that hurdle, paving the way for its inclusion.
Quick Facts
- Coinbase will officially join the S&P 500 on May 19, replacing Discover Financial Services.
- COIN stock rose nearly 9% in after-hours trading following the announcement.
- Coinbase’s market capitalization now sits at approximately $52.8 billion.
- The inclusion marks the first time a crypto-native company has entered the S&P 500.
- Coinbase joins Tesla and Block Inc. as Bitcoin-holding companies listed in the index.
