Share this article
Coinbase Shares Could See $16B of Buying Pressure From S&P 500 Index Inclusion: Bernstein
The exchange is the first and only crypto company to join the S&P 500 index.
Updated May 13, 2025, 2:52 p.m. Published May 13, 2025, 2:00 p.m.
What to know:
- Coinbase could see $9 billion of buying from passive funds linked to the S&P 500 index and $7 billion from active allocations, Bernstein said.
- Another sell-side team estimates that S&P 500 passive funds will need to buy 36 million Coinbase shares for index inclusion.
- Coinbase is the first crypto company to join the flagship stock index and its inclusion could pave the way for other digital asset firms to join.
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, replacing Discover Financial Services (DFS) which is being acquired by Capital One (COF).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Wall Street brokerage Bernstein estimates the move could lead to roughly $16 billion of buying pressure for Coinbase — around $9 billion from passive funds linked to the S&P 500 and $7 billion from active allocations.
Coinbase is the "first and only crypto company to join the S&P 500," analysts led by Gautam Chhugani wrote.
Chhugani has an outperform rating on Coinbase shares with a $310 price target, or about another 30% upside from the current $240.
Investment bank KBW estimates that S&P 500 passive funds will need to buy 36 million Coinbase shares for index inclusion, which is about 4 days of average buying volume.
KBW further noted that as of April 30, 9.9 million Coinbase shares were held short, which is 1.4 days to cover.
"Since 2017, financial 500 adds have outperformed by 5.2% on the day after announcement," KBW said, and Coinbase's addition could pave the way for other crypto firms to join the index.
Read more: Coinbase Shares Jump 8% on S&P 500 Inclusion
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
Top Stories
