ETFs With Major Coinbase Stakes Surge As COIN Prepares To Join S&P 500
Coinbase Global Inc. (NASDAQ:COIN) will be added to the S&P 500 Index on May 19 in place of Discover Financial Services (NYSE:DFS), which is being taken over by Capital One Financial. Following the news, Coinbase shares are up more than 27%.
Coinbase is the first digital-asset firm to be included in the S&P 500, marking a major breakthrough toward the cryptocurrency sector’s inclusion in mainstream finance. For the investors, the action presents the ideal time to tap into exposure by way of ETFs that hold significant stakes in the crypto exchange.
ETFs Riding The Coinbase Rally
As Coinbase gains on its S&P 500 listing, a number of ETFs with significant exposure to the company have also seen a surge. Here are some prominent ETFs making a move:
First Trust SkyBridge Crypto Industry & Digital Economy ETF (NYSE:CRPT)
This fund focuses on companies that are leading the way …
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