Milestone in the Cryptocurrency World! Next week, Coinbase will be included in the S&P 500, marking a milestone moment for the cryptocurrency industry. Coinbase is about to join the S&P 500 index. For crypto asset investors, this move represents Wall Street's mainstream recognition of the digital asset space and may drive more index funds and institutional capital into related stocks and the crypto market.
According to a press release from S&P Dow Jones Indices, the largest cryptocurrency exchange in the U.S., Coinbase Global, will be included in the S&P 500 index, replacing Discover Financial Services, which is set to be acquired by Capital One Financial. This change will take effect before trading begins on May 19.
As a result of this news, Coinbase's stock price surged 10% in after-hours trading. "This is a sign of the times," said Dan Dolev, a senior payments analyst at U.S. investment bank Mizuho, "this means cryptocurrency stocks are entering the mainstream."
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