S&P Dow Jones Indices said Coinbase Global Inc. will be added to the benchmark S&P 500 index, replacing Discover Financial Services. The change is scheduled to take effect before trading begins on May 19, 2025.
Coinbase shares rallied in extended trading after the announcement, gaining about 5% to 8.5% according to multiple market data snapshots. Discover Financial shares were unchanged in the immediate commentary contained in the announcement.
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