Breaking crypto news!
#Coinbase (COIN) officially joins the S&P 500 on May 19, 2025!
For the first time in history, a crypto exchange is included in the most prestigious stock index in the United States – S&P 500.
Coinbase will replace Discover Financial (DFS) after the acquisition by Capital One. Right after the news, COIN's stock surged by 8.8%, with market capitalization skyrocketing to 52.8 billion USD.
Why is this important?
ETF funds and index funds tracking the S&P 500 are required to purchase COIN.
This marks a turning point recognizing that crypto is becoming a part of traditional finance.
In addition to Coinbase, Tesla and Block Inc. are also names related to crypto in the S&P 500. MicroStrategy remains outside as it does not yet meet profit requirements.
Crypto is gradually being accepted on Wall Street. Are you ready yet?