Coinbase Global (COIN) is set to join the S&P 500 index on May 19, as confirmed by S&P Global. This inclusion is significant as it will enable millions of investment portfolios to gain exposure to Coinbase's stock. The cryptocurrency exchange will replace Discover Financial Services (DFS), which has been acquired by Capital One Financial Corp. Following the announcement, Coinbase's stock surged 8.8% to $225.4 in after-hours trading. The S&P 500 index tracks the performance of the largest publicly traded companies in the US, collectively representing a sizable portion of the overall stock market. As Coinbase joins the ranks of major companies like Tesla and Block Inc. that hold Bitcoin, the demand for COIN shares is expected to increase, as index funds and exchange-traded funds must purchase these shares to reflect the index accurately. This development reflects the growing integration of cryptocurrency into traditional financial ecosystems and could signify further acceptance of digital assets among mainstream investors.

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