A new entry with a VIP ticket to the Wall Street’s biggest club, is…guess who!
That’s right—Coinbase.
The main crypto exchange is officially embracing the S&P 500. It will glide into the vacancy created by Discover Financial Services which is packing up in the wake of a merger with Capital One.
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Crypto Meets Corporate America
This isn’t just another reshuffle. It’s a headline moment.
For the first time ever, a crypto-native company has been given the keys on one of finance’s most elite clubs.
Coinbase couldn’t hold back.
It went to the social media, describing the moment as historic and for supporting the making of the impossible possible.
Investors Pop the Champagne... Again
The markets loved the news.
Coinbase stocks jumped up by more than 8% after hours, as excitement surged. This piled on the 4% daytime rally, courtesy of a lightening of global trade war jitters.
But hold on.
The glow-up is after a rough period. Coinbase stock is still down around 17% in 2025, and nearly 27% over the past six months.
Nevertheless, the most recent bounce has seen the stock jump more than 17% in the course of just this month.
What’s the Big Deal Anyway?
Getting listed on the S&P 500 is not only bragging rights.
It means automatic demand.
All those index-tracking funds?
Now they have to purchase Coinbase stocks.
More trading. More buzz. Possibly higher prices.
Also, it attracts the big money investors who only trade in S&P 500 stocks.
It is like the difference between the kiddie pool and the Olympic lanes.
But let’s keep it real.
With around $53 Bn in market cap, Coinbase will be one of the less player cards of the index barely flicking its perfomance.
Nevertheless, a seat at the table is a seat at the table.
You’d think that Coinbase was partying like Bitcoin.
After all, after hitting $100,000, Bitcoin playfully came close to its peak of $42,000 in January.
When we examine values, Coinbase is still sitting at $207.22 far from its glory days of 2021 at $357.
Therefore, while Bitcoin flies, Coinbase is trying to shake the dust.
However, Coinbase is not just lying back.
It is planning its next major step.
Last week, it announced a $2.9 billion deal to purchase Deribit, a leader in Crypto derivatives in Dubai.
This deal is the greatest ever bet for Coinbase, which mixes cash and share to take it out of the American borders and into the hot options crypto market.
Numbers-wise?
Coinbase cut the S&P 500.
It posted the far-from glittering profit of $65.6 million last quarter, compared to $1.18 billion during the same period of the previous year, but this was sufficient to allow it to meet the index’s entry requirements.
Revenue? Up 24% year-over-year to $2.03 billion.
Therefore, even though the earnings have slimmed, the company has successfully demonstrated it has a right to play in the big league.
So... Has Coinbase Become Wall Street’s New Darlings?
That’s the million-dollar question.
Is this a safe bet in Coinbase? Or is it still the errant child of finance?
Currently, Coinbase will have to bask in the limelight.
However, the actual story will play out after May 19 when it enters into the S&P 500.
Will the investors stay for the sequel?
Or they swipe him to the left when the crypto party begins to cool off?
