Overview

• Coinbase officially joined the S&P 500 on May 19, 2025, replacing Discover Financial Services after its acquisition by Capital One.
• This inclusion makes Coinbase the first and only cryptocurrency exchange in the index, signaling broader acceptance of crypto in mainstream finance.
• Passive investors in S&P 500 tracker funds now hold indirect crypto exposure through Coinbase shares, which have surged nearly 30% since the announcement.
• Coinbase disclosed a cyberattack compromising customer data, with remediation costs estimated between $180 million and $400 million.
• The SEC continues to investigate Coinbase over past user data reporting, although the agency dropped an enforcement case against the company earlier this year.