Coinbase Global Inc. finished June as the strongest performer in the S&P 500, rising roughly 44% for the month and extending a three-month rally that has taken the cryptocurrency exchange’s stock to its highest level since its 2021 initial public offering. Analysts link the advance to May’s inclusion in the benchmark index, easing regulatory uncertainty and fresh revenue streams. The U.S. Senate’s passage of the GENIUS Act, which sets the first federal framework for dollar-pegged stablecoins, removed a key overhang and, according to Oppenheimer’s Owen Lau, lifted sentiment toward the company. Citizens JMP Securities analyst Devin Ryan said the market is still undervaluing Coinbase’s revenue-sharing accord with Circle Internet Group, noting that the exchange keeps all interest income on USDC balances plus nearly half of Circle’s remaining USDC revenue. New products—including a crypto-backed credit card with American Express and a stablecoin payments service for merchants—are aimed at reducing reliance on trading fees, he added. Separately, Time magazine placed Coinbase on its 2025 list of the 100 Most Influential Companies, a symbolic boost for an exchange that has climbed about 38% year-to-date and is increasingly viewed by investors as a broad proxy for the maturing digital-asset industry.