Coinbase is making headlines once again—this time with a historic leap into the S&P 500, signaling a turning point for the crypto industry’s presence in traditional finance.
The index inclusion, set to take effect before markets open on May 19, will see Coinbase replace Discover Financial and begin trading as part of the benchmark under its existing ticker, COIN.
The announcement triggered a swift rally in the company’s stock, which surged 8% on the news. Shares are now trading around $224, reflecting a 17% gain over the past month. Despite the recent upswing, COIN remains down roughly 16% for the year.
Coinbase’s inclusion comes on the heels of a bold acquisition move: a $2.9 billion deal to purchase crypto options platform Deribit. The buyout, now the largest M&A transaction in the crypto sector, cements Coinbase’s intention to dominate both spot and derivatives markets as institutional demand for crypto infrastructure grows.
Bitwise CIO Matt Hougan has described Coinbase’s trajectory as “game-changing,” even going so far as to suggest the company has the potential to grow into a trillion-dollar giant in the future.
With both Wall Street recognition and strategic expansion converging, Coinbase is positioning itself not just as a crypto exchange—but as a cornerstone of the broader digital asset economy.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/coinbase-secures-spot-in-sp-500-as-deribit-deal-fuels-expansion/