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Block Inc (XYZ) shares surged greater than 9% in pre-market buying and selling as Jack Dorsey’s Bitcoin-focused fintech prepares to hitch the S&P 500 index this week.
The inventory hit $79.26 on Robinhood as of three:21 a.m. EST and is up over 22% prior to now week, boosted by investor optimism following the S&P announcement.
Block Inc To Be a part of Coinbase In The S&P 500
Initially based as Sq. in 2009, the corporate pivoted from being primarily a cost companies and cell cost options supplier to focus extra on blockchain, rebranding to Block Inc in December 2021.
Now, Block Inc will substitute US power firm Hess Corp within the S&P 500, upon its acquisition by Chevron.
It’s going to additionally grow to be the second crypto-orientated firm to hitch the benchmark index in latest weeks, and comes roughly two months after main US crypto alternate Coinbase entered the S&P 500.
$BTC dominance slips to 59.8% as altcoins acquire momentum.
🇯🇵 Japan’s election shock boosts push to chop crypto tax from 55% to twenty%, unlocking $20T in financial savings.
In the meantime, Jack Dorsey’s Block Inc joins the S&P 500 — a milestone for $BTC-native companies.#Bitcoin #Crypto #Altcoins… pic.twitter.com/oVbISVbccI
— Smart Crypto (@WiseCrypto_) July 21, 2025
Block Inc Amongst The Largest Company Bitcoin Holders
As a part of its dedication to blockchain and digital belongings, the corporate introduced final yr that it’ll start investing 10% of its Bitcoin earnings every month into BTC.
To date, the corporate has acquired 8,584 BTC by this technique, rating it because the eleventh greatest company Bitcoin holder, knowledge from Bitcoin Treasuries reveals.
With BTC buying and selling at $119,449.64 as of seven:40 a.m. EST, the corporate’s whole holdings equate to over $1.025 billion.
Ranked at quantity 10 is fellow S&P 500 agency Coinbase, with its holdings of 9,267 BTC.
Block Inc has additionally open-sourced its treasury blueprint that different firms trying so as to add Bitcoin to their steadiness sheets can observe.
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