According to The Kobeissi Letter, Coinbase ($COIN) has been officially added to the S&P 500 index, driving its stock price up by 5% following the announcement. This development is significant for crypto market participants as Coinbase’s inclusion in a major index signals growing institutional acceptance of cryptocurrency-related equities. Index funds and ETFs tracking the S&P 500 will be required to add $COIN to their portfolios, which could boost liquidity and potentially lead to further price appreciation in both the stock and related crypto assets (source: The Kobeissi Letter, May 12, 2025). Crypto traders should monitor price action around $COIN and assess potential spillover effects on Bitcoin, Ethereum, and major altcoins due to increased mainstream exposure.