According to The Kobeissi Letter, Coinbase ($COIN) is set to join the S&P 500, causing the stock to surge over 5% following the announcement. This milestone marks Coinbase as the first major cryptocurrency-focused company to be included in the S&P 500 index, increasing institutional exposure to the crypto sector. The listing is expected to enhance mainstream acceptance of digital assets and may drive further capital inflows into both $COIN and broader cryptocurrency markets as ETFs and index funds adjust their holdings (source: The Kobeissi Letter on Twitter, May 12, 2025).