6 days ago
Newly added S&P 500 crypto stock hits record high after breakout move
Newly added S&P 500 crypto stock hits record high after breakout move originally appeared on TheStreet.
Coinbase (COIN) surged to a new all-time high of $394.01 on Tuesday, rising 15.21% and pushing its market capitalization past the $100 billion mark.
The rally marks a full recovery from its previous peak of $342 set on Nov. 13, 2021. Fueling the breakout are renewed inflows into crypto assets, Bitcoin's climb beyond $123,000, and increased institutional engagement in the digital asset space.
Coinbase (COIN) reached an intraday high of $398.50 and closed the day at $394.01, for a new all-time closing high.
This milestone comes just 2 months after Coinbase was added to the S&P 500 Index in May 2025.
On May 12, it was announced that Coinbase would be added to the S&P 500 index on May 19. This news helped COIN shares soar by 8%, as investors applauded the inclusion of a significant digital asset platform into the benchmark U.S. index.
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On June 26, COIN shares reached a new all-time high of $381.35 after the company.
During the same time, the company announced the launch of a substantial new product offering. Investors were excited about Coinbase's new perpetual-style futures contracts, which would become available to
Traditionally, futures are derivatives that have an expiration date. However, unlike traditional futures, perpetual contracts do not expire, allowing investors to maintain continuous exposure to underlying price movements.
Coinbase also shared plans to launch nano Bitcoin (0.01 BTC) and nano Ethereum (0.10 ETH) perpetual futures contracts on July 21, with spot prices and leveraged trading options.
Coinbase has also garnered strong support from some of the biggest names in the crypto industry such as Cathie Wood.
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Meanwhile, Cantor Fitzgerald increased its 12-month price target on COIN by 15% to $292, further evidence that institutions are bullish about the exchange's growth potential.
Newly added S&P 500 crypto stock hits record high after breakout move first appeared on TheStreet on Jul 15, 2025
This story was originally reported by TheStreet on Jul 15, 2025, where it first appeared.
