Block Joins S&P 500, Boosting Bitcoin Exposure to Investors
Key Takeaways
- Block officially joins the S&P 500, becoming the third Bitcoin-holding company in the prestigious index
- The company holds 8,584 Bitcoin worth approximately $1 billion, ranking 13th in BTC holdings globally
- Block stock surged nearly 14% in the five days following the S&P 500 inclusion announcement
- This creates indirect Bitcoin exposure for investors through S&P 500 tracking funds
Main Content
Jack Dorsey’s technology company Block has officially joined the Standard & Poor’s 500 (S&P 500), becoming the third Bitcoin-holding public company included in the benchmark index.
Block’s Bitcoin Holdings
Block holds 8,584 Bitcoin, valued at around $1 billion, ranking 13th among global BTC treasury holders, according to BitcoinTreasuries.NET.
Block’s stock on the NYSE surged nearly 14% in the five days following its S&P 500 inclusion announcement.
S&P 500 Inclusion Requirements
The S&P 500 index tracks the 500 largest publicly traded companies in the US. To be listed on the S&P 500, a company must meet the following criteria:
- Market capitalization greater than $18 billion
- Public float ratio greater than 10%
- Positive earnings in the most recent quarter
Block is replacing Hess Corp, a US energy company that withdrew following a $55 billion merger with energy conglomerate Chevron.
Impact on Bitcoin Exposure
The S&P 500 index has a market capitalization of $50 trillion as of the end of the first quarter of 2025. By investing in exchange-traded funds (ETFs) or other instruments that track the S&P 500, investors can gain exposure to various industries, including cryptocurrency.
Institutional participation is expected to strengthen Bitcoin’s financial transparency and encourage more conservative institutions to consider BTC as a viable treasury asset.
Comparison with Other Bitcoin-Holding Companies
Among other S&P 500 companies with significant Bitcoin exposure:
Tesla:
- Holdings: 11,509 BTC (worth $1.4 billion)
- Stock performance: Down 4.6% over the past month
Coinbase:
- Holdings: 9,267 BTC (worth approximately $1.1 billion)
- Stock performance: Up 28.4% over the past month
Coinbase’s strong performance outpaced the broader cryptocurrency market, which gained 23% over the past 30 days. Meanwhile, Tesla’s decline may be more related to company fundamentals and operations rather than the cryptocurrency market.
Conclusion
Block’s inclusion in the S&P 500 is not only a significant milestone for the company but also opens opportunities for indirect Bitcoin exposure for millions of investors through index-tracking funds. This could help drive broader Bitcoin adoption within the traditional investment community.
