$BTC

📰 S&P 500 welcomes crypto and integrates Coinbase. Shares surge 15%

The cryptocurrency trading platform will be the first company in the sector to join the main North American index. This is another step towards institutional adoption of the industry.

With the cryptocurrency industry gaining more institutional space in the U.S., Coinbase will become the first company in the sector to be part of the S&P 500 - the main North American index. The cryptocurrency trading platform will replace the financial services provider Discover Financial in the select group of listed companies that make up this benchmark, after the latter was acquired by Capital One.

The entry will only take place at the beginning of next week, on May 19, but investors are already reacting to this announcement. At this time, Coinbase is surging more than 15% to $239.46 and reaching two-month highs - a growth that may not stop here.