Coinbase Rises 8% Following Addition to S&P 500
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 12 2025
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Source: Coinmarketcap
Coinbase Joins S&P 500: Coinbase Global Inc. has been added to the S&P 500, replacing Discover Financial Services, which is a significant milestone for the cryptocurrency industry and reflects its growing institutional acceptance.
Market Impact: Following the announcement, Coinbase's stock rose by 8% to $207.22, indicating positive market sentiment, and suggesting potential increases in institutional investment and legitimacy for cryptocurrencies like Bitcoin and Ethereum.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
