US EditionCoinbase to join S&P 500 as shares soar in after-hours trading
- Coinbase Global Inc., the leading cryptocurrency trading platform in the U.S., is set to enter the S&P 500 on May 19, 2025, taking the spot currently held by Discover Financial Services.
- This change comes as Coinbase prepares to enter the S&P 500 following its direct listing in 2021, coinciding with Discover's upcoming purchase by Capital One Financial.
- Last week, Coinbase disclosed earnings of $65.6 million and revealed its intention to acquire the cryptocurrency derivatives platform Deribit for $2.9 billion.
- Shares of Coinbase closed Monday at $207.22, rose 4% in regular trading, and jumped 8% to $225 in after-hours trading after the S&P 500 announcement.
- Coinbase's entry marks the first time a cryptocurrency-centered company will join the index, reflecting its growing role in mainstream finance.
121 Articles
121 Articles
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