Institutional demand for Bitcoin is growing, as Coinbase, the world’s third-largest cryptocurrency exchange, recorded its highest daily outflows of Bitcoin in 2025 on May 9. On May 9, Coinbase saw 9,739 Bitcoin (BTC),

Even as the top digital asset dips below $104K, crypto-linked equities—including Coinbase, Robinhood, and major miners—are flashing green.

The crypto rally has more room to run, but a short-term pullback is likely before new all-time highs, analysts said.

Coinbase joins the S&P 500, bringing nearly $1B in Bitcoin onto the world’s most tracked index—and marking a turning point for corporate Bitcoin treasury strategy.

Bitcoin price surges above $104K as April CPI cools to 2.3%, boosting Fed rate-cut bets and fueling bullish market sentiment. Bitcoin Rises Above $104K as

Shares of Coinbase Global ( COIN 25.01%) surged 23.8% higher at 2:30 p.m. ET on Tuesday, May 13. The operator of the leading cryptocurrency exchange in America will join the S&P 500 market index on its next update, scheduled for May 19.

Coinbase’s addition is a landmark moment for crypto, marking increased acceptance by traditional finance. The relief is one of the daily re-shuffle by S&P Dow Jones Indices, which chose Coinbase to replace Discover Financial Services — whose junking comes after Capital One’s$ 35.3 billion accession, closing on May 18, 2025.

Coinbase joins the S&P 500, marking a milestone for Bitcoin, further highlighting Bitcoin’s strong performance, outperforming gold and the S&P 500 over the years.

Coinbase Global Inc. will join the S&P 500 next week, the first-ever crypto company to be included in the benchmark index. Coinbase soared in extended trading after the move was announced Monday.