CNBC's Tanay Macheel joins 'Closing Bell' to talk Coinbase joining the S&P 500. Chief Justice Roberts Sets Record Straight On SCOTUS Overruling Precedent

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

Coinbase Global Inc., the largest US cryptocurrency exchange, will be added to the S&P 500 Index in the latest milestone for the booming digital-asset industry.

Coinbase Global's shares jumped nearly 15% on Tuesday after the cryptocurrency exchange became the first digital asset player to be included in the benchmark S&P 500 index .

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’s upcoming entry into the S&P 500 underscores its growing influence in both the U.S. spot and crypto derivatives markets. This expansion is strengthened by its recent $2.9 billion acquisition of Deribit.

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.

Crypto exchange Coinbase (COIN) is soaring 16% early Tuesday after the Monday evening announcement of its inclusion into the S&P 500. COIN will be added to the S&P 500 index after the close on Friday,

Coinbase (NASDAQ:COIN) will be added to the S&P 500 index, replacing Discover Financial (NYSE:DFS), an established financial services firm.