Coinbase Global to become first crypto exchange to join S&P 500 index

With the inclusion, Coinbase Global will replace Discover Financial Services in the S&P 500 index

The US-based cryptocurrency exchange, Coinbase Global, is all set to join Wall Street's benchmark S&P 500 Index today, Monday, May 19, 2025. This inclusion marks the first time a digital asset company will be included in the benchmark index. 

The S&P 500 is a market-capitalisation-weighted index that tracks 500 leading publicly traded companies in the US. With the inclusion, Coinbase will replace Discover Financial Services in the S&P 500.

 

"Coinbase Global Inc. (NASD: COIN) will replace Discover Financial Services (NYSE: DFS) in the S&P 500 effective prior to the opening of trading on Monday, May 19," said S&P Global in a release.   ALSO READ: Bitcoin struggles at high levels, consolidates around $104k: What's next? 

Notably, Capital One Financial Corp, which is also part of the S&P 500, is acquiring Discover Financial, with the deal expected to close soon, pending final conditions, said S&P Global.

 

                        (Source: S&P Global/https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20250512-1478052/1478052_dfs5.pdf) 

Founded in 2012, Coinbase Global is the largest US-based cryptocurrency exchange and the world’s biggest Bitcoin custodian as of 2024. The company offers a platform that allows people and institutions to trade, stake, secure, spend, and transfer crypto assets globally. Additionally, Coinbase provides essential infrastructure for on-chain activity and supports builders who believe that on-chain is the new online. As of May 19, 2025, Coinbase has a market capitalisation of $67.87 billion.

 

Ahead of its S&P 500 inclusion, Coinbase's shares rallied 9.01 per cent to settle at $266.46 per share on Friday, May 16, 2025. The company’s shares have risen 7.3 per cent year-till-date. 

 

Coinbase’s shares have a 52-week range of $142.58 to $349.75 per share.