From Yahoo Finance: 2025-05-13 07:03:00

Coinbase Global’s shares surged 10% in premarket trading as it becomes the first digital asset player in the S&P 500. It will replace Discover Financial effective May 19, potentially adding over $5 billion in market value. The move signals crypto’s mainstream push, boosted by institutional interest and lighter regulations promised by Trump.

The inclusion in the S&P 500 could drive demand for Coinbase shares, as funds tracking the index will need to add the company to their portfolios. Despite a drop in first-quarter profit, analysts believe a recovering market could bolster momentum. Coinbase is actively expanding its institutional investor base and global presence, solidifying its position as the largest publicly traded crypto exchange.

Last week, Coinbase announced a $2.9 billion deal to acquire derivatives exchange Deribit, expanding into crypto options markets. Despite a 17% loss in shares in 2025, Coinbase’s move into the S&P 500 and strategic expansions position it for growth in the evolving crypto landscape.

Read more: Coinbase shares jump on addition to S&P 500 index