Starting May 19, Coinbase shares will be included in the S&P 500 index, replacing Discover Financial Services.
Following this announcement, the market capitalization of the bitcoin exchange rose by 7.9% to $52.78 billion at the close of the trading session.
Coinbase shares increased to $207.22, remaining below the December peak of $343.
Since the beginning of the year, Coinbase shares have decreased by 16.54%.
Trading of the bitcoin exchange’s shares began in April 2021 at $381.
In March, CFO of the platform Alesia Haas announced discussions with the SEC about launching operations with tokenized securities.
In April, Coinbase confirmed rumors about the possibility of applying for a U.S. federal bank license.
In May, the company agreed to acquire Deribit, the largest platform for trading bitcoin options. The deal amounted to $2.9 billion.