Coinbase Becomes First Crypto Firm in S&P 500, COIN Surges 10%
Coinbase (COIN) will become an official member of the S&P 500 index on May 19, becoming the first crypto company to join the elite club of America’s 500 best publicly traded companies.
The crypto exchange will be substituted for Discover Financial Services (DFS), acquired recently by Capital One (COF), according to a May 12 update from S&P Global.
The S&P 500 is an index that measures the performance of the biggest U.S. companies, a significant share of the U.S. stock market. Coinbase’s presence is expected to increase demands for its…
