Block, Inc., led by Jack Dorsey, will be included in the S&P 500 index on July 23, 2025, replacing Hess. This development marks a significant milestone for the payment platform.
Block's Inclusion in S&P 500
According to S&P Dow Jones Indices, Block will replace Hess following Chevron's acquisition of the company. This change symbolizes the growing recognition of crypto-oriented companies on Wall Street.
Impact on Stocks and Market
Following the announcement, Block's stock surged by approximately 8.5% to 10%, reflecting strong investor confidence. Index funds are expected to significantly increase their holdings in the company, contributing to further growth. Analysts note that Block, holding 8,584 bitcoins, is becoming increasingly attractive to investors.
State of the Cryptocurrency Market
Despite the positive developments regarding Block, the broader cryptocurrency market showed limited fluctuations. At the time of the report, Bitcoin was trading at $117,709.15, with a market capitalization of $2.34 trillion.
Block's inclusion in the S&P 500 highlights the integration of traditional financial markets with the crypto industry, providing the company new opportunities to attract institutional investors.
