Bitcoin News Today: Block Joins S&P 500 as Third Crypto-Linked Company, Stock Surges 14% on Bitcoin Exposure

Block Inc., Jack Dorsey’s fintech and payments company, has been added to the S&P 500 index, effective July 23, 2025, replacing Hess Corp. following its $55 billion merger with Chevron. The inclusion marks the third crypto-linked company to join the benchmark index, joining Tesla and Coinbase, and significantly expands the index’s indirect exposure to Bitcoin [1]. Block’s balance sheet holds 8,584 BTC, valued at approximately $1 billion, making it the 13th-largest corporate Bitcoin holder [2]. This move underscores growing institutional recognition of crypto assets as strategic reserves, with the S&P 500 now indirectly representing Bitcoin through corporate holdings.

The company’s stock price has surged in anticipation of the inclusion, rising 14% over five days following the announcement [3]. Analysts attribute this momentum to heightened institutional interest in crypto, as Bitcoin’s price has stabilized near $118,500 amid increased regulatory clarity and accumulation by conservative entities. A Wednesday X post from OnlyCalls noted that the inclusion “solidifies BTC’s financial visibility” and could encourage more traditional firms to adopt Bitcoin as a treasury asset [4]. However, the inclusion also highlights the dual role of Block as both a fintech innovator and a Bitcoin custodian, exposing the index to the volatility inherent in crypto markets.

Comparisons with other S&P 500 crypto players reveal divergent trajectories. Coinbase, which holds 9,267 BTC, has seen its shares rise 28.4% in a month, outperforming the broader crypto market’s 23% gain [5]. Tesla, with 11,509 BTC, has faced a 4.6% decline in share price, a shift analysts link to operational challenges rather than crypto-specific factors. These variations underscore the nuanced interplay between crypto holdings and corporate fundamentals. The S&P 500’s inclusion criteria—requiring a market cap over $18 billion, positive earnings, and a public float above 10%—ensure only established firms enter the index, but their crypto exposures introduce new dynamics for index-linked portfolios [6].

The broader implications for the crypto market remain to be seen. While Block’s inclusion legitimizes Bitcoin’s role in corporate treasuries, it also introduces risks for investors unaccustomed to crypto’s volatility. The S&P 500’s $50 trillion market capitalization now indirectly reflects Bitcoin through firms like Block, potentially amplifying exposure for institutional investors. However, the long-term success of this inclusion hinges on Block’s ability to balance innovation with regulatory compliance and investor expectations. As Dorsey’s vision of Bitcoin’s mainstream adoption faces scrutiny, the company’s performance in the index could signal whether traditional markets view crypto as a strategic asset or a speculative liability.

Sources:

[1] [S&P 500 Adds More Bitcoin Exposure With Block's Inclusion](https://financefeeds.com/sp-500-adds-more-bitcoin-exposure-with-blocks/)

[2] [Jack Dorsey's Block joins the S&P 500, what does this...](https://mugglehead.com/jack-dorseys-block-joins-the-sp-500-what-does-this-mean-for-crypto/)

[3] [Block surges before S&P 500 debut](https://www.linkedin.com/news/story/block-surges-before-sp-500-debut-6991001/)

[4] [S&P 500 inclusions lead to more BTC exposure](https://cointelegraph.com/news/block-joins-sp500-bitcoin-exposure-equity-index?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)

[5] [Coinbase, Tesla stock performances](https://cointelegraph.com/news/block-joins-sp500-bitcoin-exposure-equity-index?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)

[6] [S&P 500 criteria](https://cointelegraph.com/news/block-joins-sp500-bitcoin-exposure-equity-index?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)