Block, led by Jack Dorsey, has officially entered the S&P 500 index! It becomes the third Bitcoin Holdings concept stock | A milestone in the fusion of encryption and TradFi.

Block Inc., a payment and encryption company founded by Jack Dorsey, was formerly known as Square and has officially joined the S&P 500 index, becoming the third publicly listed company in this authoritative index to hold a Heavy Position in Bitcoin (BTC), following TSL and mainstream CEXs. Block replaced Hess Corporation, which was acquired by Chevron, on July 18 and began official trading on July 23. Although the stock price only rose slightly by 0.54% on the first day of official trading, it had previously surged by 10% on the day the inclusion news was announced. The company’s CFO, Amrita Ahuja, described this as a sign of "broader market recognition," while the encryption research firm Kronos Research viewed it as evidence of increased trust in the encryption industry from TradFi. Currently, Block holds 8,584 BTC, and the total BTC holdings of the three S&P 500 component companies have reached approximately 29,360 BTC. The market anticipates that Bitcoin holdings pioneer MicroStrategy (now known as Strategy) may be the next entrant.

Block joins the ranks of top stock indices, adding another member to the encryption-related companies Block Inc., led by Twitter co-founder Jack Dorsey, has successfully joined the S&P 500 Index, becoming the third company deeply involved in Bitcoin(BTC) and the encryption field in this high-profile stock index. This company, which combines payment services with Bitcoin business, was officially included in the index on July 18, replacing Hess Corporation(, which was acquired by Chevron Corporation) on the same day. The formal trading of its stock, with the ticker symbol XYZ, began on July 23. Although the stock price only rose slightly by 0.54% on its first day of trading, it had surged by 10% when the news of its inclusion was announced the previous week. Market commentators view this as a milestone in the development of fintech(, while leaders in the encryption industry emphasize that this is an important signal for Wall Street to increase BTC exposure).

Encryption concept stocks camp: Block, mainstream CEX, Tesla are listed in the S&P 500 Unlike Block, which spans the fields of financial technology and encryption:

• Mainstream CEX: As the first pure encryption native enterprise, joined the S&P 500 Index on May 19, 2025.
• Tesla (TSLA): As an important Bitcoin Holdings company, it was included in the index as early as December 21, 2020. As of the time of writing, the Bitcoin open interest of the three companies is:
• TSL: Holds 11,509 BTC
• Mainstream CEX: Holdings 9,267 BTC
• Block Inc.: Holds 8,584 BTC

Market Response: Broader Awareness and Trust Enhancement Amrita Ahuja, the Chief Operating Officer and Chief Financial Officer of Block Inc., responded to this update by stating that it is significant for the company to gain "broader market recognition (broader exposure)."

"This is not the finish line. It is a signal that the business we are building has durability. Being selected has brought broader recognition." Hank Huang of the encryption research company Kronos Research views this as the traditional finance ( TradFi ) participants' "growing trust (" in the encryption field: "The inclusion of Block Inc. in the S&P 500 index marks an increase in the trust of TradFi towards encryption-related companies and a steady acceptance of blockchain infrastructure."

Block Inc. Background and Encryption Layout Block Inc. (formerly Square) was founded in 2009 by Jack Dorsey and Jim McKelvey, with the original intention of providing small businesses the ability to accept card payments through mobile devices. The company subsequently expanded into other financial services, including:

• Peer-to-peer payment application Cash App
• Loan Business Square Capital
• Sales Terminal System Square PoS )Point of Sale( In December 2021, the company was renamed Block Inc., marking its strategic transformation towards blockchain-related services:
• Support developers and applications based on the Bitcoin network through Spiral.
• Establish a department focused on decentralized finance ) DeFi ( solutions TBD. It is worth noting that last year Dorsey announced that he would use 10% of his encryption product revenue to purchase Bitcoin.

Next potential candidate: MicroStrategy )Strategy( In this context, the pioneer of Bitcoin corporate holdings—MicroStrategy (now renamed Strategy)—is viewed as a potential candidate for the S&P 500 index. If it successfully makes the list, there will be four companies in the index that are deeply associated with Bitcoin, providing investors with a more diversified encryption industry exposure.

Conclusion: An Important Step for Encryption to Integrate into Mainstream Finance Block Inc. has successfully entered the globally influential stock index S&P 500, marking not only a milestone in its own development but also a symbolic event for Bitcoin and encryption assets to gain broader recognition within the traditional financial system. Along with TSL and mainstream CEX, the three giants with Heavy Positions in BTC together form the "crypto concept stocks" camp in the S&P 500, with a total open interest of nearly 30,000 BTC. MicroStrategy (Strategy) is seen as the next strong candidate, and its potential selection will further strengthen this trend. This move significantly broadens the channels for traditional investors to indirectly allocate Bitcoin through compliant, mainstream stock market avenues, accelerating the integration of encryption assets into the traditional financial world.