By ED CARSON

Pexels / Bastian Riccardi File Photo

Coinbase Global (COIN) will join the S&P 500 index before the open on Monday, May 19. COIN stock jumped in premarket trading.

The cryptocurrency exchange will replace Discover Financial (DFS), which is being acquired by Capital One (COF). The deal is expected to close soon.

Coinbase stock bounced 9.9% in premarket trade, signaling a move to above the 200-day moving average. Shares popped nearly 4% to 207.22. in Monday's regular session. COIN stock is down 16.5% in 2025 as of May 12.

Coinbase has been seen as a possible S&P 500 from some time, but was snubbed at the latest quarterly rebalancing.

Robinhood Markets (HOOD), another crypto-affiliated play, also was passed over. HOOD stock was little changed overnight.

Please follow Ed Carson on X/Twitter at @IBD_ECarson and Threads at @edcarson1971 for stock market updates and more.

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Source: IBD