Jack Dorsey’s Block to join S&P 500, stock surges 9% after-hours
2025-07-19 07:27:28
Main Idea
Block, Inc., Jack Dorsey's financial services company, is set to join the S&P 500, leading to a 9% surge in its stock price, following Coinbase's recent inclusion as the first crypto firm in the index.
Key Points
1. Block's stock surged almost 9% after-hours following the announcement of its inclusion in the S&P 500, replacing Hess Corp.
2. This marks the second crypto-related firm to join the S&P 500 after Coinbase, which was added two months prior.
3. Crypto commentators view this as a significant move for Bitcoin, highlighting potential increased institutional interest and passive investment flows.
4. Block must meet specific criteria for S&P 500 inclusion, including a market cap over $18 billion, a public float above 10%, and positive earnings.
5. There is speculation that more crypto-related firms may join the S&P 500 in the future, with MicroStrategy also being a potential candidate.
Description
Block’s inclusion in the S&P 500 comes just two months after crypto exchange Coinbase made history as the first cryptocurrency firm to join the index.
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