Coinbase Becomes First Crypto Firm to Enter S&P 500 Index

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Coinbase Becomes First Crypto Firm to Enter S&P 500 Index in the US

Written by Manas Mitul | Updated: 13 May 2025 14:02 IST

Coinbase Becomes First Crypto Firm to Enter S&P 500 Index in the US

Photo Credit: Unsplash/ PiggyBank 234v59

Coinbase CEO Brian Armstrong called the development a milestone moment

Highlights

Many from the Web3 community lauded the development
Coinbase became a public company in April 2021
Jack Dorsey’s Block is also part of the S&P 500 Index

ment

Coinbase is set to enter the S&P 500 index in the US next week. The index, maintained by the New York-headquartered financial intelligence firm Standard & Poor's (S&P) Global, lists the 500 leading publicly traded firms in the US. Coinbase's entry into this elite group makes for a significant moment in Web3 history, as the company is set to become the first crypto firm to the index. Both Coinbase and S&P Global confirmed the development on Monday. Coinbase, which is listed as COIN on Nasdaq, will enter the S&P 500 index on May 19.

The US-based crypto exchange is replacing Discover Financial Services (DFS) on the S&P 500 list. DFS, meanwhile, is being acquired by Capital One Financial Corp in the coming days, S&P said in its announcement.

Coinbase posted a message of gratitude on X following the development.

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“Thank you to everyone who made it possible for a crypto company to the S&P 500 for the first time in history,” the exchange said.

Thank you to everyone who made it possible for a crypto company to the S&P 500 for the first time in history.
— Coinbase :shield: (@coinbase) May 12, 2025

Brian Armstrong, the CEO of Coinbase, called this development a “milestone” moment for the crypto industry.

“This milestone represents what the true believers, from retail investors to institutional investors to our employees and partners, knew all along. Crypto is here to stay,” Armstrong noted.

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Many from the Web3 community, including MicroStrategy's Michael Saylor, have acknowledged the development on social media.

Congratulations @Brian_Armstrong on $COIN being added to the S&P 500 Index. A major milestone for Coinbase and for Bitcoin.
— Michael Saylor (@saylor) May 12, 2025

Coinbase became a public company in April 2021. Moving forward, the demand for Coinbase shares is projected to rise as all index-tracking funds will need to add COIN to their respective portfolios, Crypto Times said in its report. At the time of writing, COIN shares were trading at $207.22 (roughly Rs. 17,600).

Other crypto-related companies that are part of the S&P 500 include Jack Dorsey's financial services firm Block.

For now, Coinbase is working with the US crypto task force as the agency takes steps to finalise Web3 regulations in the US.

Back in March, the exchange completed its registration with India's Financial Intelligence Unit (FIU-IND) to re-enter the market after a brief hiatus.

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Further reading: Brian Armstrong

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More

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