Website of Block, inc. seen in iPhone screen. Block Inc. (formerly Square Inc.) is an US multinational technology conglomerate

Website of Block, inc. seen in iPhone screen. Source: Koshiro K - stock.adobe.com

Key Takeaways:

Block has joined the S&P 500, becoming the third company in the index with significant Bitcoin holdings.
With 8,584 BTC (~$1B), Block is now the 13th-largest corporate Bitcoin holder globally.
Inclusion in the S&P 500 gives indirect Bitcoin exposure to investors in major U.S. equity funds and ETFs.

Block, the tech firm helmed by Jack Dorsey, has officially joined the S&P 500 index, becoming the third company in the benchmark to hold significant Bitcoin reserves.

Block owns 8,584 BTC, worth about $1 billion, making it the 13th-largest corporate Bitcoin holder globally.

JUST IN: 🇺🇸 Payments Giant Block to officially join the S&P 500 today.

They hold 8,584 bitcoin on their balance sheet 🚀 pic.twitter.com/iyLz0tR1X7
— Bitcoin Magazine (@BitcoinMagazine) July 23, 2025

Its stock surged nearly 14% in the five days following the announcement.

With Block’s addition, the S&P 500 now includes three companies with direct Bitcoin exposure, alongside Coinbase and Tesla.

This development indirectly boosts Bitcoin exposure for investors in S&P 500-tracking funds and ETFs.

To qualify for the index, companies must meet criteria including a market cap over $18 billion, sufficient public float, and a positive earnings report.

Block replaces Hess Corp, which exited after a $55 billion merger with Chevron.

As of Q1 2025, the S&P 500 represents $50 trillion in total market capitalization.

Commentators view Block’s inclusion as a sign of growing institutional acceptance of Bitcoin, with some predicting more conservative firms may follow.

Currently, Coinbase holds 9,267 BTC (approx. $1.1B), and Tesla holds 11,509 BTC (approx. $1.4B), though their recent stock performances have diverged due to company-specific factors.