Coinbase Global Inc (COIN)

[Minddoc7]

***BIG NEWS *** WE HAVE ARRIVED ***

S&P Global’s confirmation of Coinbase Global being inserted into the S&P 500.

The S&P 500 is a stock market index that tracks the performance of 500 of the largest, publicly traded companies in the US, representing a broad measure of the overall US stock market.

Coinbase’s inclusion in the S&P 500 should increase demand for its stock because index funds and exchange-traded funds that track the S&P 500 must buy COIN shares to mirror the index.

The S&P 500 tracked an aggregate market cap of $49.8 trillion as of March 31. It is a market-cap-weighted index, giving more weight to larger firms such as Microsoft, Apple, and Nvidia. The bottom 400 companies, where Coinbase will likely be, are typically weighted between 0.01% and 0.2% of the overall index.

COIN shares immediately rose 8.8% to $225.4 in after-hours trading following the announcement, Google Finance data shows. The company also finished the March 12 trading day up 4%, bringing its market cap to $52.8 billion.

Coinbase chief financial officer Alesia Haas said the inclusion marked a “major milestone” for Coinbase and the broader crypto industry.

”Joining this prestigious index reflects how far Coinbase and the industry have come and is a signal of where the world is heading.”

The crypto exchange joins Tesla (TSLA) and Block Inc. (SQ) as large corporate Bitcoin holders currently in the index fund.

Bitcoin-stacking firm Strategy (MSTR) was also seen as an S&P 500 candidate last year. However, firms seeking entry must have been profitable in the last calendar year and the most recent quarter to qualify.

Strategy posted a net loss of $4.2 billion for the first quarter of 2025 on May 1, suggesting it won’t be included any time soon.

Inclusion into the S&P 500 also requires companies to be trading on a large US stock exchange, such as the New York Stock Exchange or Nasdaq, generating at least half of their revenues in the US, and having a market cap above $18 billion. Strategy satisfies these other requirements.