The Coinbase Global (Coin) will join the Standard and Poor’s 500 (S&P500) index fund on May 19, the S&P Global financial information platform said in a recent statement.
Crypto exchange will replace Discover Financial Services (DFS), recently acquired by Capital One Financial Corp (COF), S&P Global Says on May 12.
The S&P 500 is a stock market index that monitors the performance of 500 of the largest, publicly exchanged with US companies, representing a wide measure of the overall US stock market.
Coinbase’s integration with the S&P 500 should increase demand for its stock as index funds and funds that have been traded monitoring S&P 500 should buy coin sharing to glass index.
Coin sharing immediately increased by 8.8% to $ 225.4 in after time trade following announcement, Google Finance Data Shut up.
Related: $ 45 million stolen from coinbase users last week – Zachxbt
The Crypto Exchange joined Tesla and Block Inc. As the other large holder of the Corporate Bitcoin who is currently in the index fund, which tracks a combined -a joint market cap of more than $ 49.8 trillion until March 31.
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This is a story development, and further information will be added as it is available.
