Block Surges as It Secures Spot in Prestigious S&P 500 Index

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Jack Dorsey’s financial technology firm, Block, Inc., is set to join the S&P 500 index, a move that triggered an almost 9% surge in its stock price during after-hours trading on Friday. The development represents another milestone for companies with strong ties to digital assets and signals growing acceptance of Bitcoin among institutional investors.

Block will officially enter the Standard and Poor’s 500 (S&P 500), the benchmark index tracking the performance of 500 leading publicly listed U.S. companies by market capitalization, replacing Hess Corporation, an energy firm. The change takes effect before markets open on Wednesday, according to a statement released late Friday. Block, formerly known as Square, becomes the latest company with a strong focus on Bitcoin to make its way into the S&P 500, following closely behind cryptocurrency exchange Coinbase Global, which was added to the Nasdaq-100 index two months prior.

This move was widely anticipated in the investment community, as Block not only meets all the required metrics, including a market capitalization over $18 billion, a positive public float above 10%, and earnings that meet Generally Accepted According to Bitbo and BitcoinTreasuries.net, Block currently holds 8,584 BTC in its corporate treasury, a figure confirmed as of June 25, 2025 drawing attention from both cryptocurrency advocates and traditional financial analysts.

Commentators from the digital asset space hailed the announcement as a significant step forward for Bitcoin’s integration into the financial mainstream. WiseSummit, a popular online crypto commentary platform, stated, “This is not just a headline. It is trillions in passive flows inching closer to Bitcoin.” Another commentator, known as CryptoTheDoggy, called Block’s position “Wall Street’s new blueprint,” citing the company’s combination of cryptocurrency roots and financial technology innovation.

Block’s upcoming integration with the Lightning Network, a second-layer solution designed to enable faster, cheaper Bitcoin transactions, further reinforces its role in modernising digital payments. The company revealed plans in May to enable Bitcoin payments via Square, its merchant services platform, with a phased rollout beginning later this year and a full launch scheduled for 2026. The announcement was made during the Bitcoin 2025 conference in Las Vegas, where Block showcased live transactions using Square’s hardware and the Lightning Network.

Industry experts suggest more crypto-connected companies may be considered for inclusion in the S&P 500 soon. Notably, Michael Saylor’s firm, Strategy, has reportedly met the index’s eligibility criteria for over a week, fuelling speculation about its potential addition.

With Block’s rise into the upper echelon of U.S. public companies, the message is clear: cryptocurrency-aligned firms are no longer fringe players; they are becoming pillars of modern finance.