Coinbase becomes first crypto company to join the S&P 500

Coinbase has made the story, becoming the first Crypto company to join the S&P 500.

The movement, announcement On May 12 by S&P Global, will take effect on Monday, May 19. The exchange will replace Discover Financial Services, recently acquired by Capital One. After the announcement, Coinbase (Coin) shares jumped 8.8% trade after opening hours, according to Google Finance data.

Coinbase is the greatest exchange of American cryptocurrency. It was founded in 2012 and has been registered in Nasdaq since 2021. Despite a difficult year for cryptocurrency actions, the company recently reported Net income of $ 65.6 million for the first quarter.

For this reason, it is eligible to be included in the S&P 500, which requires coherent profitability. Income also climbed 24% over the other to $ 2.03 billion.

The CEO of Coinbase, Brian Armstrong, celebrated the moment on X, writing: “The crypto is there to stay.” In another article, the company added: “First, they ignore you. Then they make fun of you. Then they fight you. Then they add you to the S&P 500 …”

Inclusion in the S&P 500 generally increases the exposure of a company, as the index tracking funds must buy its actions. Coinbase now joins heavy goods vehicles like Apple and Nvidia in the reference hintwhich followed a total market capitalization of 49.8 billions of dollars on March 31.

The exchange should be at the lower level of the index, which includes companies with weighting between 0.01% and 0.2%. However, the milestone marks a turning point for digital assets. Coinbase now shares the S&P 500 status with another Bitcoin (BTC) Tesla Tesla and Block. Especially absent is the strategy, which failed to qualify after having displayed a net of $ 4.2 billion loss at T1 2025.