Jack Dorsey’s Block Joins S&P 500 in Major Milestone for Crypto
Jack Dorsey's Block Inc. is making its debut on the S&P 500, a landmark moment for the Bitcoin-focused fintech firm.
The addition, scheduled for July 23, follows the removal of Hess Corp., which was acquired by Chevron.
This marks Block as the second crypto-aligned company to enter the index, after Coinbase. The company has built its identity around Bitcoin integration—from payments and mining to treasury holdings. With over 8,500 BTC on its books, Block ranks just behind Coinbase among the largest public Bitcoin holders.
The announcement sent Block’s stock soaring over 10% in after-hours trading, jumping above $79 as institutional investors prepared for index rebalancing. The stock has gained more than 15% in the last month but remains down year-to-date.
Block’s inclusion is seen by some analysts as a sign of crypto’s growing entrenchment in the broader economy. With institutional recognition accelerating, the S&P 500 may soon see more entrants from the digital asset sector. Strategy, the Bitcoin-heavy firm led by Michael Saylor, is already generating buzz as a likely candidate for future inclusion based on strong quarterly performance and market cap.
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