Coinbase will become the first pure cryptocurrency company to be included in the S&P 500, with its stock price soaring 8% in after-hours trading

According to ChainCatcher, The Block reported that Coinbase (stock code COIN), the largest cryptocurrency exchange in the United States, will officially be included in the S&P 500 index, marking a precedent for pure cryptocurrency companies to be selected for this benchmark index. Following the announcement, Coinbase's stock price rose by 8% in after-hours trading, reaching $226, with a market capitalization of $53 billion.

This inclusion signifies the cryptocurrency industry's recognition by mainstream financial markets, with Coinbase replacing Discover Financial Services in the S&P 500. It is worth noting that despite a 13% quarter-over-quarter decline in revenue to $2 billion in the first quarter of 2025, the company still achieved a net profit of $527 million, demonstrating its profitability amid the volatility of the cryptocurrency market.