Block Inc. Secures S&P 500 Listing in Major Fintech Validation

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Jack Dorsey’s Block Inc. will join the S&P 500 index effective Wednesday, July 23, marking a significant milestone for the Bitcoin-focused financial technology company. Shares surged 10% in after-hours trading following Friday’s announcement.

The company, which began as Square in 2009 before rebranding to Block in 2021, now encompasses a diverse portfolio including Cash App, Afterpay, and its Bitcoin-focused Bitkey wallet and Proto mining division.

“This recognition reflects our team’s dedication to expanding economic access through innovative financial tools,” Block stated in an official release.

Block’s inclusion comes just months after Coinbase became the first crypto-native company to enter the benchmark index, replacing energy firm Hess Corporation which is being acquired by Chevron.