- Coinbase stock jumped 8% after S&P 500 inclusion, despite the overall year trend still being negative.
- $2.9 billion Deribit buyout makes waves, largest crypto M&A yet, tightening Coinbase market grip.
Coinbase Global has become the first cryptocurrency business to be added to the S&P 500 Index. The move begins before Monday’s opening on May 19, with Discover Financial stepping down from the list, which is being taken over by Capital One. According to the listing, Coinbase will stay listed with the ticker ‘COIN’, expanding the firm’s public listing.
Coinbase stock price grew shortly after the announcement. Nasdaq data indicate an 8% rise in the stock price following the news. The COIN stock has risen more than 17% in the last month to stand at around $224. Despite this, the year-to-date is down over 16%, indicating a mixed trend in the sentiment of investors.
The addition to the widely tracked index was announced in a press release issued by S&P Dow Jones Indices. This is part of a wider strategy pursued by Capital One in acquiring Discover Financial, making room for Coinbase in the index. Since institutional capital tracks the S&P 500 so closely, the move introduces Coinbase to the large-scale investor group for the first time.
Coinbase Expands with $2.9 Billion Acquisition
Coinbase’s momentum is not just about stock performance or additions to the index. Just days before the S&P 500 news, the firm announced a $2.9 billion deal to buy Deribit, a crypto options platform. This is the biggest-ever merger and acquisition in the crypto space. The magnitude of the transaction points to the firm’s desire to consolidate and spread its reach across various segments of the market.
Coinbase Chief Operating Officer Emilie Choi highlighted the milestone’s importance, noting that the S&P 500 is among the most widely followed indexes in the world and a significant magnet for institutional capital. She has characterized the development as a “big deal” for customers, employees, investors, and the firm itself.
Industry voices have also chimed in on the addition of Coinbase to the S&P 500. Strategy founder and Bitcoin champion Michael Saylor praised both the exchange and CEO Brian Armstrong for the moment, saying that it is a big win for both the exchange and for the wider adoption of Bitcoin.
Public Reactions and Optimism from Leadership
After the official announcement, Coinbase acknowledged the support it received through a message on its X account:
Thank you to everyone who made it possible for a crypto company to join the S&P 500 for the first time in history.
Brian Armstrong also opined in an X post, highlighting the significance of the achievement. He mentioned that this makes Coinbase the first and sole crypto business to join the S&P 500. Armstrong noted that the achievement is a testament to what true believers—retail buyers, institutional investors, employees, and partners—have long believed: crypto is not going anywhere.
Coinbase just became the first and only crypto company to join the S&P 500.
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. https://t.co/MnMRCX8pMg
— Brian Armstrong (@brian_armstrong) May 12, 2025
Bitwise Chief Investment Officer Matt Hougan contributed to the excitement, speculating the firm may be paving the way for achieving a trillion-dollar valuation at some point in the future based on the recent activity and increasing presence.
