Coinbase soars as it becomes first crypto S&P 500 stock, 13 May 2025 11:03
- Stock surges 9% in after-market trading
- Will replace Discover Financial after its merger with Capital One
- Q1 trading was soft versus expectations
Coinbase Global (COIN:NASDAQ) has become the first crypto stock to be accepted into the US S&P 500 index, sending its share price shooting higher.
The crypto exchange will replace Discover Financial Services (DFS:NYSE) after its’ merger with Capital One Financial (COF:NYSE) was cleared by regulators.
STOCK SURGES 9%
In after-market trading overnight, Coinbase shares surged 9% to $225.58, bolstering its market cap by nearly $5 billion and adding to the 4% stock gains chalked-up in regular trading on 12 May.
The crypto exchange’s inclusion, effective 19 May, marks a…
