Coinbase joins S&P 500: Coinbase, a major cryptocurrency exchange, will join the S&P 500 index on May 19, 2025. This makes it the first crypto company in the S&P 500, a list of 500 large U.S. companies seen as a measure of the economy’s health. Replacing Discover Financial Services, Coinbase’s inclusion highlights its growing role in finance and the rising acceptance of digital assets.
Source | Reuters
Why This Matters
The S&P 500 is trusted by investors worldwide. Companies in this index often gain more attention from big investors like pension funds or ETFs. For Coinbase, being added means more visibility and trust in traditional finance. It also signals that crypto is becoming part of the mainstream financial system. This move comes as Bitcoin recently passed 100,000 USDT, showing stronger interest in digital assets.
How Coinbase Qualified
To join the S&P 500, a company must meet strict rules, including having a large market value, steady profits, and shares that are easy to trade. Coinbase’s market value is about $50.8 billion—far above the $20.5 billion minimum. It also reported profits in 2024 ($2.58 billion) and early 2025 ($65.6 million), proving it can earn money consistently. While some worry about crypto’s ups and downs affecting Coinbase, others note its business model—earning fees from trades and subscriptions—makes it less risky than other crypto-focused firms.
What Changes for Crypto
Coinbase’s inclusion could bring more big investors into crypto. Many institutions follow the S&P 500 closely, so they may now invest in Coinbase, indirectly supporting the crypto market. This could help stabilize prices and encourage more companies to explore blockchain technology. Experts say this step might also push other major indexes to include crypto firms in the future.
Mixed Reactions
The news sparked debate. Some investors argue crypto is still too unpredictable for the S&P 500. Others point out Coinbase’s strong profits and diversified income, like subscription services, which grew to $698 million in early 2025. After the announcement, Coinbase’s stock rose 8%, showing market optimism. CEO Brian Armstrong called it a “milestone,” thanking users and his team for their support.
Behind the Scenes
Coinbase’s recent moves likely helped its case. In early 2025, it bought Deribit, a crypto derivatives platform, expanding its services. It also won a legal battle against the SEC, which dropped a lawsuit against it. These steps strengthened its position. While some questioned why other companies weren’t chosen, the S&P committee’s decision reflects Coinbase’s growth and crypto’s rising influence.
Looking Ahead
Coinbase’s S&P 500 entry is a win for both the company and crypto. It shows digital assets are maturing and gaining trust in traditional finance. As more institutions invest, crypto could become a regular part of investment portfolios, much like stocks or bonds.
At Millionero, we share the same mission: to make crypto more accessible, trusted, and useful in everyday life. As a European exchange, we’re committed to offering simple tools, local payment options, and low fees to help more people participate in this evolving space. The path that Coinbase is paving in traditional finance echoes what we’re building on the ground for users across Europe.
For now, Coinbase’s journey from a startup to an S&P 500 member marks a new chapter—not just for the company, but for the entire crypto industry.
This step reminds us that finance is evolving. With companies like Coinbase—and platforms like Millionero—leading the way, the future of money looks more digital, open, and connected than ever.