Coinbase Exchange Stock Included in S&P 500 Index, Post-Market Price Surges Over 10%

Coinbase’s Milestone in the Nasdaq

Coinbase went public through a Direct Listing on Nasdaq on April 14, 2021, becoming the largest publicly traded company focused on the cryptocurrency business by market capitalization. At the time of its listing, its market value peaked at $85 billion, and it currently stands at approximately $53 billion.

Although COIN’s stock price remains below the historical high of $343 set last December, its inclusion in the Nasdaq index symbolizes the gradual acceptance of the cryptocurrency industry by mainstream financial markets.

According to the S&P 500’s listing rules, a company must demonstrate positive net income for the most recent quarter and the preceding four quarters combined. Despite Coinbase’s past financial volatility, it has benefited from the recent market recovery and improved regulatory environment, delivering impressive results in the first quarter of 2025:

• Revenue: $2 billion (slightly down from the previous quarter)
• Adjusted Net Income: $527 million
• Trading Revenue: $1.2 billion (a 19% decrease from the previous quarter)

Reports indicate that Coinbase’s growth has also been aided by the more lenient regulatory policies for the cryptocurrency industry established after the Trump administration took office. In addition to Coinbase, other competing exchanges such as Bullish, Gemini, and Kraken have also announced plans to go public.

Currently, several companies involved in the cryptocurrency business are already part of the S&P 500, including Block, PayPal, and Visa. However, Strategy (MicroStrategy), which holds a significant amount of Bitcoin, has not yet been included due to its market capitalization not meeting the threshold.