Coinbase Global will be included in the S&P 500 next week, becoming the first crypto company in the benchmark index.
Coinbase shares rose by 11% in after-hours trading, reaching just under $230, following the announcement.
Coinbase managed to report a profit for the last quarter, meeting the requirement for S&P 500 inclusion.
Despite a tough year and a disappointing first quarter, Coinbase's revenue increased to $2.03 billion, and the company announced the acquisition of Deribit for $2.9 billion.