PANews reported on May 13, according to Beincrypto, that the cryptocurrency exchange Coinbase (NASDAQ: COIN) will officially be included in the S&P 500 index on May 19, replacing Discover Financial Services. This marks the first pure cryptocurrency business to be included in this benchmark index. Coinbase becomes the first company focused on cryptocurrency to be added to the S&P 500 index.
Previously, Capital One Financial acquired Discover Financial, and the deal is expected to be completed soon after meeting final conditions. After the announcement, Coinbase's stock price rose over 7% in after-hours trading.