Shares of Coinbase rose sharply Tuesday on news that it would be included in the benchmark S&P 500 this month.

Coinbase Global Inc. will join the S&P 500 next week, the first-ever crypto company to be included in the benchmark index. Coinbase soared in extended trading after the move was announced Monday.

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Coinbase’s upcoming entry into the S&P 500 underscores its growing influence in both the U.S. spot and crypto derivatives markets. This expansion is strengthened by its recent $2.9 billion acquisition of Deribit.

Coinbase had its best day since just after last year’s presidential election, as investors bought shares ahead of the company’s inclusion in the S&P 500.

Coinbase has partnered with Canadian stablecoin issuer Stablecorp in a bid to expand access to tokenized Canadian dollars, a company executive told Cointelegraph during the Blockchain Futurist Conference in Toronto. According to Coinbase Canada's CEO ...

Coinbase (NASDAQ:COIN) will be added to the S&P 500 index, replacing Discover Financial (NYSE:DFS), an established financial services firm.