Jack Dorsey’s Block Enters S&P 500: Bitcoin Supporter Joins Crypto

Published on: July 19, 2025

Jack Dorsey’s fintech firm Block will join the S&P 500 on July 23, replacing Hess Corp, marking a major milestone in the crypto sector and earning a strong market response.

Key Takeaways

1Block Inc. will officially join the S&P 500 before trading opens on July 23, 2025.
2Shares surged roughly 9 to 10 % in after-hours trading on July 18 after the announcement.
3The company holds 8,584 bitcoin, reinforcing its crypto-focused reputation.
4This follows Coinbase’s May 19 inclusion, making Block the second crypto-aligned company in the index.

How exciting is it when a crypto friendly business lands in the big leagues? That is exactly what happened to Jack Dorsey’s Block Inc this week. With a stock spike and blockchain buzz, this move signals growing legitimacy for bitcoin-friendly firms.

Block joins the S&P 500

On July 18 S&P Dow Jones Indices confirmed that Block Inc (NYSE: XYZ) will replace Hess Corp in the S&P 500, effective before the opening bell on Wednesday, July 23, 2025. Hess was removed after being acquired by Chevron in a 53 billion dollar deal.

Market cheers inclusion

Following the announcement, Block saw its stock rise between 9 % and 10 % in after hours trading, trading near 79 to 79.50 dollars. Investors cheered the inclusion, recognizing that index-tracking funds will need to buy shares ahead of July 23.

Why Block qualified

To qualify for the S&P 500 a company must:

Have a market cap above 18 billion dollars
Maintain public float over 10 %
Post positive earnings in the latest quarter and over the past four quarters under GAAP
Block satisfied all these criteria, similar to Coinbase’s inclusion in May.

Crypto credentials in the spotlight

Block is a known champion of bitcoin. It holds 8,584 BTC, worth over 1 billion dollars, in its corporate treasury. Crypto commentators celebrated:

“This is not just a headline. It is trillions in passive flows inching closer to Bitcoin.”  WiseSummit
“Crypto roots + Fintech firepower = Wall Street’s new blueprint.”  cryptothedoggy

Jack Dorsey’s Block is officially joining the S&P 500.

From building Bitcoin payment rails to shaking up TradFi.

Crypto roots + Fintech firepower = Wall Street’s new blueprint. 🚀 pic.twitter.com/LssEvewWCi
— cryptothedoggy (@cryptothedoggy) July 19, 2025

Block’s inclusion joins Coinbase and Tesla as companies in the S&P 500 with direct bitcoin exposure.

What this means for crypto and finance

This move suggests a growing acceptance of crypto-aligned firms in wide-reaching investment benchmarks:

Institutional inflows: Index funds will fund purchases of Block shares, indirectly boosting bitcoin confidence.
Mainstream legitimacy: Block’s place in the S&P 500 validates its hybrid fintech and crypto model.
Growth pathway for others: Firms like Strategy (formerly MicroStrategy) are now on watch; Strategy has also qualified on market-cap grounds and made aggressive BTC purchases.

In May Coinbase became the first crypto-native firm to reach the S&P 500, effective May 19.

Broader market trends

Block’s excitement hit amid a week of crypto-friendly U.S. legislation like the Clarity and Genius Acts, helping push bitcoin and ether to record highs. Market analysts say this twin momentum from legal clarity and index inclusion could deepen trust in the crypto space.

CoinLaw’s Takeaway

I see this as a turning point. Block’s inclusion in the S&P 500 is more than symbolism, it is institutional validation of its bitcoin-first strategy. With another crypto-linked company in the index, we are witnessing the mainstreaming of digital assets in portfolios that many people rely on for their retirement. This can drive additional capital flows into crypto, help stabilize markets, and encourage more companies to layer bitcoin holdings into their treasury.