Shares of Coinbase Global ( COIN 25.01%) surged 23.8% higher at 2:30 p.m. ET on Tuesday, May 13. The operator of the leading cryptocurrency exchange in America will join the S&P 500 market index on its next update, scheduled for May 19.

Coinbase shares fell as first-quarter revenue came in shy of Wall Street's expectations, despite the growth in stablecoin revenue.In the quarter ended March 31, Coinbase earned $65.6 million, or 24 cents per share,

The crypto exchange's broadening product suite and dominant U.S. market position set it up well for the long term, many analysts said.

Coinbase is getting pulled into the core of traditional finance. On Monday, the company was picked to join the S&P 500, replacing Discover Financial

Most U.S. stocks rose May 13 following an encouraging report that showed inflation unexpectedly slowed across the country last month.

The crypto exchange cited a drop in crypto prices as a result of U.S. President Donald Trump’s tariff policy and macroeconomic uncertainty as the reason behind the weak quarter.

Tariffs-related price gains likely will show up in the data.These stocks were poised to make moves Tuesday:UnitedHealth was falling 6.7% as the health insurer named Stephen J. Hemsley as its CEO, following Andrew Witty’s decision to step down as chief executive for personal reasons,