From Yahoo Finance: 2025-05-13 16:12:00

Coinbase stock soared 24% as it joined the S&P 500, marking a milestone for the crypto industry. The move came after the SEC dropped a case against Coinbase. Bitcoin hit $100,000, boosted by a token-friendly framework promised by the Trump administration. Coinbase’s shares are up 3% YTD.

The inclusion of Coinbase in the S&P 500 signifies a turnaround for the crypto industry. Company executives view this as a major milestone, reflecting the industry’s progress and future direction. With a Buy rating and $310 price target, Bernstein sees Coinbase as the dominant platform riding the crypto wave in the U.S.

Coinbase’s stock hit all-time highs in December, rising 90% post-Trump’s election. The stock dipped in April post-Trump’s tariff policy announcement. Bernstein highlights Coinbase’s $320 billion in assets and 10 million active users, with a 66% U.S. market share. Follow Ines Ferre for more insights on finance news.

Read more: Coinbase stock soars 24% as inclusion in S&P 500 signals ‘dramatic turnaround’ for crypto industry