Coinbase (COIN.US) reaches a milestone in the S&P 500: first day surge of 24%, institutional holdings may signal positive trend.

According to the Securities Times APP, the stock price of the largest cryptocurrency exchange Coinbase (COIN.US) in the United States surged 24% on Tuesday, marking the largest single-day increase since the day after the US presidential election in November last year. This move was driven by S&P Global announcing after Monday's market close that Coinbase will officially replace Discover Financial Services (DFS.US) and be included in the S&P 500 Index, with the adjustment taking effect before the market opened on Tuesday.