The cryptocurrency exchange Coinbase Global will join the benchmark S&P 500 index on May 19, marking an important milestone for the crypto sector. The news isn’t entirely unexpected. Coinbase is one of the largest companies based on market value not currently part of the index.

Rosenblatt analyst maintains Buy rating for Coinbase Global, raises price target to $300. Recent gains driven by S&P 500 addition and Deribit acquisition.

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 joins the S&P 500, backed by strong Q1 results and resilient core business growth. Read my full COIN stock analysis here.

Investors eye more trade deals, updates from President Trump’s trip to the Middle East and fresh consumer inflation data after U.S. stocks soared Monday as investors celebrated major progress on U.S.-China trade talks.