Investors jumped on shares of Coinbase Global after the Monday night news that the crypto exchange will join the S&P 500 next week.

Coinbase shares surged 24% on May 13, 2025. The move marks their biggest one-day gain since the day after Donald Trump's election victory. Inclusion of the stock to the S&P 500 led to this surge.

Coinbase is joining the S&P 500, replacing Discover Financial Services in the benchmark index, according to a release on Monday. The change will take effect before trading on May 19. Discover is in the process of being acquired by Capital One Financial.

The company is the first of its kind to join the landmark index. Cryptocurrency skeptics and fans alike say that gives the virtual tender a stamp of legitimacy, but can’t agree if it’s warranted.

Leading brokerage firm Bernstein is very bullish on Coinbase (Nasdaq: COIN) following the announcement of its upcoming addition to the S&P 500. Bernstein analysts led by Gautam Ch

Coinbase CEO Brian Armstrong invites DOGE team members, including a former Harvard student, to join the exchange’s mission.

Shares of Coinbase Global (COIN) are seeing gains of 25% on Tuesday after announcements that the cryptocurrency exchange will be joining the S&P 500 (^GSPC) on May 19, replacing Discover Financial Services (DFS) on the stock market index.