Bitcoin News Today: Block Inc. Stock Surges 8.5% to 10% on S&P 500 Inclusion

Block Inc., led by CEO Jack Dorsey, will be included in the S&P 500 index on July 23, 2025, replacing Hess Corp. This change follows Chevron Corp.'s acquisition of Hess Corp., which has vacated its spot in the index. The announcement has led to a significant surge in Block's stock price, with shares jumping approximately 8.5% to 10%. This increase is attributed to the positive market sentiment surrounding Block's inclusion in the prestigious index, which is often seen as a benchmark for large-cap U.S. stocks.

Block's addition to the S&P 500 is a testament to its growth and market influence. The company, which holds 8,584 bitcoins and has bet on the Lightning Network for its payments, has gained market support for its Bitcoin strategy. This inclusion in the S&P 500 is expected to further boost its visibility and attract more investors, potentially driving its stock price even higher. The new addition resulted in an 8.5% to 10% rise in Block's stock price, reflecting strong market confidence. Passive index funds are expected to significantly increase their holdings in Block, reinforcing buying momentum. Industry observers noted that Bitcoin-focused firms are increasingly prominent in traditional indices. Block's substantial holdings of 8,584 bitcoins contribute to its attractiveness to investors. However, the broader cryptocurrency market showed limited immediate movement, with Bitcoin being the most directly affected asset. Market analysts emphasized the strategic impact of Block's treasury holdings on its investment appeal.

Block's S&P 500 entry is a significant milestone for the company, as it joins the ranks of other leading companies in the index. This move is expected to have a positive impact on Block's stock price, as it is likely to attract more institutional investors who track the S&P 500 index. The change in the S&P 500 index is not just a reflection of Block's success but also a strategic move by the index to stay relevant and representative of the current market landscape. Hess Corp.'s acquisition by Chevron Corp. has led to its removal from the index, making way for a company that is more aligned with the evolving trends in the financial sector. This reflects increasing alignment between traditional markets and the crypto sector. The broader cryptocurrency market showed limited immediate movement, with Bitcoin being the most directly affected asset. Market analysts emphasized the strategic impact of Block's treasury holdings on its investment appeal.