In mid-May 2025, the cryptocurrency exchange Coinbase Global (ticker COIN) will officially join the S&P 500 index. The platform will replace the shares of Discover Financial Services, which was acquired by Capital One Financial. This was announced by S&P Global on May 12.
Inclusion of Coinbase in the index means that its share will be considered in the portfolios of millions of index funds and ETFs tracking the S&P 500.
The S&P 500 index reflects the dynamics of the 500 largest public companies in the U.S. It is 'weighted' by market capitalization: the largest participants (Microsoft, Apple, Nvidia) have the greatest weight, while companies at the bottom of the list, such as Coinbase, typically account for about 0.01-0.2% of the index.
After the announcement of Coinbase's inclusion in the index, COIN shares rose by almost 9% in after-hours trading, and the company's market capitalization exceeded $50 billion.
