Jack Dorsey’s Block Enters S&P 500, Reflecting Fintech and Crypto Rise

Jack Dorsey’s Block Inc. is set to join the S&P 500 index, a significant development that highlights the growing role of fintech and cryptocurrency in global financial markets. This move comes after Chevron Corp.’s $53 billion acquisition of Hess Corp., which paves the way for Block to be included in the prestigious U.S. benchmark.

According to a press release issued by S&P Dow Jones Indices on Friday, the changes will go into effect before trading begins on July 23. Following the announcement, Block’s shares surged by as much as 14% in after-hours trading, reflecting strong investor confidence.

From Square to Fintech Powerhouse

Founded as Square, Block Inc. has grown well beyond its original role as a mobile payments processor. The company now offers:

• Peer-to-peer payment services

• Merchant solutions for businesses

• Consumer lending through Cash App

• Bitcoin payment integration

This transformation has turned Block into a formidable force in the fintech space.

Major Regulatory Milestone for Lending

In a landmark move earlier this year, Block’s banking arm, Square Financial Services Inc., received approval from the US Federal Deposit Insurance Corp. to issue consumer loans directly via its Cash App Borrow feature. This positions Block to compete more directly with traditional banks and digital lenders.

Bitcoin Integration and Dorsey’s Crypto Vision

Block’s entry into the S&P 500 aligns with its ongoing efforts to embed Bitcoin payment capabilities into Square terminals, reflecting Jack Dorsey’s long-standing support for Bitcoin and open-source blockchain development.

Jack Dorsey, who is also the former CEO of Twitter, continues to influence the crypto landscape. He recently shared open-source Bitcoin coding projects on X (formerly Twitter), reinforcing his commitment to decentralization.

Strategic Significance of S&P 500 Inclusion

Being included in the S&P 500 index not only elevates a company's reputation but also opens access to trillions of dollars in passive investments, as index-tracking funds automatically adjust their holdings.

“Inclusion in the US equity benchmark can elevate a company’s profile and is becoming more important as passive investment funds grow. Expulsion from the benchmark can weigh on stock prices, as index funds sell shares to realign with the S&P 500’s new composition.”

Block’s inclusion signals a growing investor appetite for fintech and digital asset platforms that are reshaping traditional finance.

The Road Ahead for Block

Despite occasional volatility in its earnings, Block is aggressively expanding the Cash App ecosystem with a vision to transform it into a comprehensive banking and lending platform.

As of Q1 2025, Block has over 53 million monthly transacting users and a growing presence in both developed and emerging markets. Its expansion into lending, crypto, and banking services makes it a top fintech player to watch.

Conclusion 

Block Inc.’s entry into the S&P 500 marks a pivotal moment not only for the company but also for the broader fintech and cryptocurrency sectors. The move reflects the increasing acceptance of digital-first financial platforms in the mainstream investment landscape.

With Chevron acquiring Hess for $53 billion, the index reshuffle gives Block the opportunity to attract institutional investors and gain more market credibility.

The company’s expansion beyond payments — into banking, lending, and crypto integration — positions it as a key player in the evolving financial services ecosystem.

Jack Dorsey’s vision for a decentralized, crypto-empowered future continues to influence Block’s strategic direction. As it prepares to join the S&P 500 on July 23, Block is not just entering an elite index — it's signaling the rise of the next-generation financial infrastructure. Its continued innovation and regulatory progress will likely shape the future of how people pay, borrow, and invest.