Robinhood Markets is set to officially join the S&P 500 on September 22, taking the place of Caesars Entertainment during the index’s regular quarterly reshuffle.
The move, confirmed by S&P Dow Jones Indices, makes Robinhood the latest company with strong ties to digital assets to secure a spot in America’s most followed stock benchmark. For the crypto industry, it marks another step toward deeper integration with traditional finance.
According to Edwin Mata, co-founder and CEO of Brickken, Robinhood’s addition strengthens the S&P 500’s indirect link to crypto. “The index still doesn’t hold digital assets directly, but Robinhood serves as a key entry point for retail crypto trading, so part of the sector’s growth and liquidity is now reflected in the S&P,” he explained.
Robinhood and Coinbase: Crypto gateways in the S&P 500
Robinhood now joins Coinbase — which entered the S&P 500 earlier this year — as one of only two companies in the index with direct involvement in crypto. Both act as major on-ramps to digital assets, effectively giving passive investors and retirement accounts a slice of crypto exposure through traditional investment vehicles.
“The fact that Robinhood has been added shows that crypto-related businesses are no longer niche — they are now recognized pillars of the U.S. market,” said Agne Linge, head of growth at decentralized bank WeFi.
As with any new addition, all index funds and ETFs tracking the S&P 500 must include Robinhood’s stock (HOOD) in their portfolios, injecting passive capital into the company. However, this could also bring some extra volatility.
Linge pointed out that both Robinhood and Coinbase have high beta scores — 2.36 and 2.89 respectively — signaling bigger price swings compared to the broader market. Still, he argued that the inclusion gives ordinary investors, pension funds, and institutions a safe, indirect way to tap into crypto.
Wall Street takes notice
CNBC’s Jim Cramer also weighed in, praising Robinhood as a “juggernaut” that has transformed retail investing. He highlighted the company’s evolution beyond stocks and crypto into options, retirement accounts, and credit cards, calling it a rare disruptor that Wall Street initially dismissed but now must take seriously.
“It just came out of nowhere, and it’s dominating,” Cramer said.
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