Coinbase increases 10% after joining S&P 500

Coinbase (Coin) jumped 10% after negotiation hours after the company became the first Crypto company to join the S&P 500 index.

The company’s shares pumped more than 3% during the American negotiation session of yesterday and continued to rally after the hours of negotiation, according to Google Finance data. Following the recent increase, Coin is negotiated at $ 207.22 at 1 h 03 hne.

The CEO of Coinbase says that the inclusion of S&P 500 confirms “Crypto here to stay”

S&P Global said in a May 12 announcement This part will be added to the S&P 500 index on May 19. The main American Crypto exchange will replace Discover Financial Services (DFS), recently acquired by Capital One Financial Corp (COF), according to the announcement.

“This step represents what real believers, from retail investors to institutional investors to our employees and partners, knew from the start: Crypto is there to stay,” said CEO Coinbase, Brian Armstrong, in an article on May 12 on X.

Coinbase has just become the first and the only Crypto company to join the S&P 500.

This step represents what real believers, from retail investors to institutional investors to our employees and partners, knew from the start.

The crypto is there to stay.

– Brian Armstrong (@brian_armstrong) May 12, 2025

Coinbase joins other business bitcoin holders in the S&P 500 index

While Jamming Perhaps the first and only Crypto company to join the S&P 500, it is not the only business Bitcoin holder in the index. Some of the biggest corporate BTC holders, including Tesla and Block Inc., are also currently followed by the index.

Bitcointheries data shows Tesla is classified as the seventh largest Bitcoin holder, with her assets of 11,509 BTC. Meanwhile, Bock Inc. is the tenth company Bitcoin holder with his hiding place of 8,485 BTC.

Coinbase is classified a position above block Inc. with its reserves which include 9,480 BTC. Other companies listed in the index, such as Paypal and Visam, also offer cryptography services, but that their commercial models do not revolve around digital assets.

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