Coinbase to join S&P 500 next week in crypto market milestone
NEW YORK – Coinbase Global, the largest US cryptocurrency exchange, will be added to the S&P 500 Index in the latest milestone for the booming digital-asset industry.
The company will replace Discover Financial Services in the index prior to the start of trading on May 19, S&P Dow Jones Indices said. Shares of Coinbase were up 13 per cent in after-hours trading on May 12
The inclusion of Coinbase is viewed as a vindication by crypto faithfuls who helped US President Donald Trump win the election in November.
“It’s a sign of the times,” said Dan Dolev, senior payments analyst at Mizuho. “It’s the welcoming of crypto stocks to mainstream.”
The addition comes after Capital One Financial Corp. received approval from US regulators…
