Crypto Pushes Deeper Into S&P 500 as Block Follows Coinbase Into Index
The post Crypto Pushes Deeper Into S&P 500 as Block Follows Coinbase Into Index appeared on BitcoinEthereumNews.com.
In brief Block becomes the second crypto-facing firm in the S&P 500 index, two months after Coinbase. For over a year, Block has allocated 10% of its monthly profit from Bitcoin services to purchase additional Bitcoin. Industry observers say regulatory shifts are helping push crypto firms into mainstream acceptance. Block Inc., the fintech company led by Twitter co-founder Jack Dorsey, is set to join the S&P 500 this week, marking the second crypto-facing firm to be added to the index in less than a year. Block’s move follows Coinbase’s addition to the index in May, when it replaced Discover Financial Services. Block will replace Hess Corp. It is expected that Dorsey’s company will be listed on Wednesday, the company announced on Friday, replacing Hess Corp, an oil and gas firm being acquired by Chevron. The S&P 500 is a widely followed U.S. equity index that includes 500 of the largest publicly traded companies by market capitalization. Companies must meet criteria on profitability, liquidity, and trading volume to qualify, making Block’s inclusion a marker of its financial and operational maturity. While Coinbase is a pure-play crypto exchange, Block integrates Bitcoin into its broader fintech ecosystem, offering exposure through consumer and merchant-facing products. Still, Block is one of the first few companies to adopt a Bitcoin Treasury strategy, and is listed as one of the top ten public companies holding Bitcoin on their balance sheets. “Block’s S&P 500 inclusion is just another example of how crypto companies are now becoming a mainstream staple of markets,” Robbie Ferguson, co-founder and president of blockchain infrastructure developer Immutable, told Decrypt. Citing examples such as stablecoin issuer Circle’s U.S. public debut, as well as the increased interest among financial institutions, Ferguson observes a “wholesale change” where crypto-facing firms are becoming accepted in traditional finance, at…
Filed under: News - @ July 21, 2025 8:27 pm