Shares of Coinbase rose sharply Tuesday on news that it would be included in the benchmark S&P 500 this month.

Coinbase had its best day since just after last year’s presidential election, as investors bought shares ahead of the company’s inclusion in the S&P 500.

Coinbase shares skyrocketed 24% on Tuesday following news the cryptocurrency exchange will be added to the S&P 500. Monitor these key chart levels.

Coinbase Global Inc. will join the S&P 500 next week, the first-ever crypto company to be included in the benchmark index. Coinbase soared in extended trading after the move was announced Monday.

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.

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With the exception of a minor whipsaw, Bitcoin's price effectively failed to react to the softest CPI print since 2021. The dropping Bitcoin dominance and