Coinbase stock ($COIN) is set to make history by becoming the first cryptocurrency company to join the S&P 500 index on May 19, 2025, replacing Discover Financial Services.
Inclusion in the S&P 500 brings increased integration of digital assets into traditional financial markets, leading to a 10% after-hours surge in Coinbase's stock.
This move opens opportunities for new capital influx from index funds and institutional investors, solidifying Coinbase as a serious player in the crypto space.
Coinbase's CFO views this development as a turning point for crypto, emphasizing increased adoption and credibility for the industry within mainstream finance.