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Coinbase set to become the first crypto firm to join the S&P 500. Inclusion boosts investor confidence, signaling growing institutional acceptance of crypto firms. In a landmark move for the crypto industry, Coinbase Global is set to become the first digital asset firm to join the prestigious S&P 500 index on the 19th of May.  The exchange will take the place of Discover Financial Services following its acquisition by Capital One, marking a major crossover between traditional finance and the crypto sector.  What impact will Coinbase’s S&P 500 inclusion have on the market? Coinbase’s inclusion in the S&P 500 is expected to drive strong demand for its stock. Funds tracking the index will now be required to add COIN shares to their portfolios. The company will likely enter as a lower-weighted firm in the index. Its presence signals growing institutional recognition of crypto’s role in the U.S. economy. Investor enthusiasm has already surged. According to Google Finance, its shares rose 8% in after-hours trading. Earlier that day, the stock closed 4% higher, bringing its market cap to $52.8 billion. Coinbase CFO Alesia Haas called the move a “major milestone” for the company and the broader crypto ecosystem. She said, ”Joining this prestigious index reflects how far Coinbase and the industry have come and is a signal of where the world is heading.” Coinbase’s market trend At press time, Coinbase was trading at $226 in after-hours markets, well below its December peak of $343. Since its Nasdaq debut in April 2021 under the ticker COIN, it has remained the largest publicly traded pure-play crypto firm. While its market cap once reached $85 billion at launch, it now sits around $53 billion. In February, Oppenheimer analyst Owen Lau predicted Coinbase’s potential S&P 500 inclusion. He cited five consecutive months of growth and…

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Filed under: News - @ May 13, 2025 11:28 pm