Coinbase Jumps As Crypto Exchange To Join S&P 500, Replacing Discover Financial

Coinbase will officially replace Discover Financial (DFS) in the S&P 500, as Discover is being acquired by Capital One (COF), with the deal expected to close soon.

Following the news, Coinbase stock surged nearly 15% on Tuesday to $238.05, reclaiming its 200-day moving average, after a 4% gain to $207.22 on Monday. Despite a 16.5% drop in 2025 as of May 12, COIN stock rallied strongly on this update.

Coinbase had long been considered for S&P 500 inclusion but was previously overlooked in quarterly rebalancing.

Meanwhile, Robinhood Markets (HOOD), another crypto-linked firm, was also bypassed but saw its stock jump 5.2% to $60.39 on Tuesday. Robinhood announced its acquisition of WonderFi Technologies for $179 million, expanding its crypto operations in Canada.

Source: investors 

Voice of Osiz

We view Coinbase’s S&P 500 entry as a major milestone for the crypto industry’s mainstream acceptance. This reflects rising investor confidence in blockchain-powered platforms. The market’s strong response signals growing trust in digital asset firms. Meanwhile, Robinhood’s WonderFi acquisition hints at aggressive crypto expansion ahead.