Coinbase Makes History as First Crypto Firm in S&P 500

Crypto just scored a major win in the traditional finance world. Coinbase, the largest U.S.-based crypto exchange, is officially joining the S&P 500 on May 19. This makes Coinbase the first crypto-native company to be added to one of Wall Street’s most iconic indexes, and it’s a pretty big deal. With Coinbase joining the S&P 500, traditional investors will now get a wider exposure to digital assets.

It’s not just a milestone for the company. It’s a clear signal that the financial world is finally starting to take crypto seriously.

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Market Reaction

Investors didn’t waste any time reacting. Coinbase stock popped 4 percent during the regular trading day, then tacked on another 9 percent in after-hours action. The stock ended up closing at $207.22. Traders seem to like the idea of crypto moving further into the financial mainstream, and they’re putting their money behind it.

As the saying goes…

“First they ignore you.
Then they laugh at you.
Then they fight you.
Then they add you to the S&P 500.”

…or something like that.

— Coinbase

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