Catenaa, Wednesday, May 154, 2025 – Coinbase will also be included in the S&P 500 on May 19, becoming the first pure-play cryptocurrency company to enter the benchmark index, replacing Discover Financial Services after its Capital One acquisition, according to reports.
The inclusion could drive as much as $9 billion in passive inflows, according to Bernstein analysts.Shares of Coinbase went up 25% Tuesday, trading near $258.
Analysts estimated its index weight at 0.1%, triggering not only passive inflows but also up to $7 billion in active fund positioning.
The move marks a dramatic turnaround for Coinbase, which only months ago faced litigation from the SEC. That suit was dropped under the Trump administration, and executives now tout the milestone as a turning point for crypto in mainstream finance.
Meanwhile, Nasdaq-listed GD Culture Group also announced plans to raise up to $300 million via share sales to purchase bitcoin and the TRUMP memecoin, highlighting a rising trend of corporate crypto treasury strategies.
The AI-driven e-commerce firm reported a $14.1 million loss in 2024 and previously faced compliance issues with Nasdaq’s equity requirements.
