Coinbase had its best day since just after last year’s presidential election, as investors bought shares ahead of the company’s inclusion in the S&P 500.

Cryptocurrencies, including top meme coins, are in focus this week following news that Coinbase will soon join the benchmark S&P 500 index. In a press release on Monday, the index confirmed that Coinbase will replace Discover Financial Services to become a part of it on May 19.

Crypto exchange Coinbase (COIN) is soaring 16% early Tuesday after the Monday evening announcement of its inclusion into the S&P 500. COIN will be added to the S&P 500 index after the close on Friday,

Coinbase’s upcoming entry into the S&P 500 underscores its growing influence in both the U.S. spot and crypto derivatives markets. This expansion is strengthened by its recent $2.9 billion acquisition of Deribit.

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 Global (NASDAQ:COIN) shares jumped 16% in Tuesday morning trading on news it will join the S&P 500 (SP500) (SPX) next week, in a "watershed moment" that is set to boost institutional ownership of the crypto exchange.

Coinbase joins the S&P 500, bringing nearly $1B in Bitcoin onto the world’s most tracked index—and marking a turning point for corporate Bitcoin treasury strategy.