Jack Dorsey’s Bitcoin Firm Block Inc Joins

Jack Dorsey’s Bitcoin-focused firm, Block Inc., has joined a significant and exclusive group: the S&P 500 index.

This news, which became effective on Wednesday, July 23rd, 2025, is a major milestone for Block and for the broader cryptocurrency industry. Block replaced Hess Corp. in the index.

Here’s why this is important:

Mainstream Validation: Inclusion in the S&P 500, which comprises 500 of the largest U.S. publicly traded companies, provides significant mainstream validation for a company with a strong focus on Bitcoin and other digital assets. It signals to traditional investors that crypto-related businesses are becoming established and financially robust.

Increased Exposure and Investment: S&P 500 inclusion means that countless index funds, ETFs, and institutional investors tracking the S&P 500 will now automatically include Block (ticker XYZ) in their portfolios. This can lead to substantial passive inflows of capital and increased liquidity for Block’s stock.

Bitcoin Exposure for Traditional Investors: Block’s significant Bitcoin holdings (approximately 8,584 BTC, valued at around $1 billion at the time of the announcement) mean that investors in S&P 500 index products will now have indirect exposure to Bitcoin. This is a subtle but impactful way for more conservative portfolios to gain some crypto exposure without directly investing in volatile digital assets.

Growth Trajectory: Block’s inclusion comes after meeting the stringent criteria for the S&P 500, including a market capitalization over $18 billion and consistent positive earnings. This reflects the company’s growth and financial performance across its various business units, which include Square (merchant services), Cash App (consumer banking and payments), Afterpay (buy-now-pay-later), TIDAL (music streaming), Proto (Bitcoin mining products), and Bitkey (self-custody Bitcoin wallet).

This move by Block, following Coinbase’s inclusion in the S&P 500 a couple of months prior, further solidifies the growing presence of cryptocurrency-centric companies within the traditional financial landscape. It highlights the increasing integration of digital assets into mainstream finance.