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🚀 Coinbase Joins S&P 500, Signaling Major Milestone for Crypto Industry
In a landmark development for the cryptocurrency sector, Coinbase Global is set to be added to the S&P 500 index on May 19, 2025. This inclusion marks the first time a major U.S. stock index has embraced a crypto-native company, underscoring the growing institutional acceptance of digital assets.
Following the announcement, Coinbase shares surged 24% to $256.90, reflecting heightened investor enthusiasm. Analysts from Oppenheimer described the move as a "watershed moment" for both Coinbase and the broader crypto industry. The company's market capitalization now stands at $52.78 billion.
This development coincides with a broader bullish trend in the crypto market. Bitcoin has risen approximately 50% since President Trump's electoral victory in November 2024, buoyed by expectations of a more crypto-friendly regulatory environment. Other crypto-exposed companies, such as Robinhood and MicroStrategy, have also experienced notable gains.
Coinbase will replace Discover Financial Services in the S&P 500, following Discover's acquisition by Capital One Financial in a $35.3 billion deal.
May 12 (Reuters) - Paul Atkins, the chair of the Securities and Exchange Commission, laid out his vision for overhauling the agency's cryptocurrency policies on Monday, saying he plans to establish guidelines for distributions of crypto tokens that are securities and consider whether additional exemptions are necessary.
In remarks made at the outset of a public meeting of the SEC's crypto task force, Atkins also indicated that the SEC may consider tweaking its rules so that registered broker-dealers with an alternative trading system - or ATS - can also facilitate trading in non-securities, such as bitcoin or ether, the two largest cryptocurrencies.
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