The cryptocurrency exchange Coinbase Global will join the benchmark S&P 500 index on May 19, marking an important milestone ...

The company is the first of its kind to join the landmark index. Cryptocurrency skeptics and fans alike say that gives the virtual tender a stamp of legitimacy, but can’t agree if it’s warranted.

Shares of Coinbase Global (NASDAQ: COIN) surged 23.8% higher at 2:30 p.m. ET on Tuesday, May 13. The operator of the leading ...