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Shares of Jack Dorsey’s Block Jump 8.5% on S&P 500 Inclusion
Inclusion in the S&P 500 index will increase Block's visibility and exposure to institutional investors, who will indirectly gain exposure to bitcoin.
Jul 19, 2025, 4:29 p.m.
What to know:
- Block will join the S&P 500 index on July 23, replacing Hess Corp, causing its shares to surge 8.5% in after-hours trading.
- Inclusion in the S&P 500 index will increase Block's visibility and exposure to institutional investors, who will indirectly gain exposure to bitcoin.
- Block holds 8,584 bitcoin on its balance sheet, making it one of the largest BTC treasuries among publicly traded firms, and its addition to the S&P 500 follows Coinbase's inclusion in the index earlier this year.
Payments firm Block (XYZ) will be added to the S&P 500 index on July 23, replacing Hess Corp following the oil company’s acquisition by Chevron.
The news sent Block’s shares soaring 8.5% in after-hours trading. After closing Friday’s session up 2.95%.
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Inclusion in the index means Block shares will appear in portfolios run by mutual funds and institutional managers following the S&P 500, the stock market’s benchmark index.
Earlier this year, Coinbase (COIN) became the first cryptocurrency firm to join the index and at the time its shares saw a similar jump. Earlier this week, COIN hit a new all-time high around $445 before correcting.
Block is best known for its Cash App and Square, as well as its ongoing integration of Bitcoin into its business model. The company piloted real-time bitcoin payments earlier this year and is looking to roll out the feature broadly next year.
The company's inclusion in the index also means that major investment funds will indirectly add exposure to bitcoin and the wider cryptocurrency ecosystem.
The company holds 8,584 bitcoin on its balance sheet according to BitcoinTreasuries, giving it the 11th-largest BTC treasury among publicly traded firms.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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