Author: John Smith

Coinbase (COIN) shares surged over 8% after-hours on news of its S&P 500 inclusion. Coinbase will replace Discover Financial in the index effective before market open on May 19. The inclusion marks a significant milestone, giving broad investor/portfolio exposure to a crypto firm. Shares of cryptocurrency exchange Coinbase (COIN) experienced a significant surge in after-hours trading on Monday following the landmark announcement that the company will be added to the prestigious S&P 500 stock index. This inclusion marks a pivotal moment for Coinbase and the broader digital asset industry, signaling increased mainstream acceptance and potentially ushering in a new wave…

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The inclusion, effective before trading begins on May 19, will see the crypto major replacing Discover Financial Services in the index. Analysts at Bernstein estimate the move could trigger roughly $9 billion in inflows from passive investment vehicles linked to the S&P 500. At a market capitalization of approximately $52 billion, Coinbase would represent around 0.1% of the S&P 500 Coinbase is set to become the first pure-play cryptocurrency firm to be included in the S&P 500 index. The inclusion, effective before trading begins on May 19, follows the pending completion of Discover Financial Services’ acquisition by Capital One.…

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