"Jack Dorsey's Block Added to the S&P 500 Index"

2025-07-19 14:00
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"Jack Dorsey's Block Added to the S&P 500 Index"

출처: Block Media

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Block Inc. Set to Enter S&P 500, Replacing Hess Corporation

Block Inc. (NYSE: SQ), a leading American technology company co-founded by Jack Dorsey—former CEO of Twitter (now X)—is gearing up to join the prestigious S&P 500 index, marking a significant milestone in its journey.

As per reports from global news outlets on October 18, Block will officially replace Hess Corporation, a major energy company, in the index effective October 23. This change comes as Hess Corporation becomes ineligible following its acquisition by energy giant Chevron.


Prominent Digital Finance Innovator Joins S&P 500

Block's addition to the S&P 500 underscores its growing influence in the digital finance and cryptocurrency sector. The move is yet another recognition for companies in the blockchain and digital payments ecosystem, after Coinbase joined the index earlier this year in May.

Widely recognized for its groundbreaking mobile payment platform, Cash App, Block has also earned acclaim for its pioneering approach to Bitcoin (BTC). As part of its treasury strategy, the company adopted Bitcoin early and currently holds 8,585 BTC, according to data from Bitcoin Treasuries. Acquired since 2020, these holdings are now valued at approximately $1.01 billion—representing a staggering return of nearly 300% to date.


Stock Market Reacts to the Announcement

News of Block’s inclusion sparked an immediate reaction in the stock market, driving shares of Block up by as much as 10% in after-hours trading. The stock temporarily peaked at $79.49 following the announcement. In contrast, Robinhood—previously rumored to be a potential S&P 500 entrant—saw its shares dip 1.3% in after-hours trading.

This landmark decision reflects Block’s expanding presence across the financial and technology sectors, showcasing the growing convergence of digital assets, blockchain-driven innovation, and traditional market indices. As the landscape of financial technology continues to evolve, Block’s inclusion signals the rising mainstream adoption of digital payment solutions and cryptocurrency by institutional benchmarks like the S&P 500.


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