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Coinbase Makes History as First Crypto Company to Join S&P 500: Market Implications and Future Outlook

In a landmark development for the cryptocurrency industry, Coinbase Global Inc. (NASDAQ: COIN) is set to join the prestigious S&P 500 index, effective prior to market opening on Monday, May 19, 2025. This historic inclusion marks the first time a cryptocurrency-focused company will be represented in what is widely considered the most important stock market index in the United States. Coinbase will replace Discover Financial Services (NYSE: DFS), which is being acquired by Capital One Financial Corp. (NYSE: COF).

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BlackRock Files to Allow In-Kind Redemptions for Its Ethereum Trust, Enabling Direct ETH Buybacks

BlackRock, the world’s largest asset manager with over $11.5 trillion in assets under management, has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) on May 9, 2025, proposing the inclusion of in-kind creation and redemption for its iShares Ethereum Trust ETF (ETHA). This significant development would enable direct purchases of ETH from the market, marking a critical evolution in institutional crypto investment vehicles.

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