Shares of Coinbase Global ( COIN 25.01%) surged 23.8% higher at 2:30 p.m. ET on Tuesday, May 13. The operator of the leading cryptocurrency exchange in America will join the S&P 500 market index on its next update, scheduled for May 19.

Coinbase is getting pulled into the core of traditional finance. On Monday, the company was picked to join the S&P 500, replacing Discover Financial

The crypto exchange's broadening product suite and dominant U.S. market position set it up well for the long term, many analysts said.

Coinbase shares fell as first-quarter revenue came in shy of Wall Street's expectations, despite the growth in stablecoin revenue.In the quarter ended March 31, Coinbase earned $65.6 million, or 24 cents per share,

Most U.S. stocks rose May 13 following an encouraging report that showed inflation unexpectedly slowed across the country last month.

The crypto exchange cited a drop in crypto prices as a result of U.S. President Donald Trump’s tariff policy and macroeconomic uncertainty as the reason behind the weak quarter.

Coinbase (COIN) stock surged nearly 24% on Tuesday as Wall Street cheered the inclusion of the first and only crypto exchange in the S&P 500 (^GSPC) — a major milestone for the company and an industry once in the crosshairs of regulators.

Tariffs-related price gains likely will show up in the data.These stocks were poised to make moves Tuesday:UnitedHealth was falling 6.7% as the health insurer named Stephen J. Hemsley as its CEO, following Andrew Witty’s decision to step down as chief executive for personal reasons,