Coinbase's S&P 500 debut comes after the company disclosed a cyberattack and is facing an investigation by the U.S. Securities and Exchange Commission.

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

Coinbase shares jumped by double digits on Tuesday. The exchange is set to be the first crypto firm to be included in the S&P 500. Coinbase will replace Discover Financial on May 19. The move ...