Coinbase shares soar 24% after historic S&P 500 inclusion announcement

Coinbase's inclusion in the S&P 500 marks a significant milestone for the crypto industry, boosting its shares and setting a precedent for other digital asset companies. Analysts predict further demand as funds adjust their portfolios to include Coinbase.

Sources:
ReutersFinance+1
Updated 3h ago
Section 1 background
This is a major milestone, not just for Coinbase, but also for the entire crypto industry.
Alesia Haas
CFO of Coinbase
Finance
Coinbase has gone from being in with the SEC just a few months back to being the latest addition to S&P 500.
Gautam Chhugani
Managing Director at Bernstein
Finance
Percentage increase in Coinbase shares
15%
Reuters
Bitcoin price level approached
$105,000
1
Ethereum price after advance
$2,700
1
Percentage increase in Ethereum
9%
1
Bitcoin price target range for 2025-2026
$150,000-$180,000
1
Percentage increase in Coinbase stock
24%
Finance
Key Facts
  • Coinbase became the first digital asset player to be included in the S&P 500, marking a significant milestone for the company and the crypto industry.
  • Bitcoin came within a few dollars of the $105,000 level, while Ethereum's ETH led crypto gains with a 9% advance to $2,700.Coindesk1
  • Analysts predict that BTC faces resistance at $106,000, suggesting consolidation is likely before the next leg higher.Coindesk1
  • Bitfinex analysts set a medium and long-term price target for Bitcoin at $150,000-$180,000 for 2025-2026.Coindesk1

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Coinbase will join S&P 500 Index, replacing Discover
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Other Facts in these Reports

Analysts noted the potential for increased demand for Coinbase shares as funds tracking the S&P 500 would need to add the company to their portfolios.
Reuters
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