block He joined the S&P 500 on July 23 and replaced Hess after a $54 billion acquisition by Chevron, which rose 10.7% to $79.69 from $72.01 to $79.69 since its opening on July 18th.
company Announced the addition on July 18thurges investors to sit ahead of index tracking funds, where they must buy stocks to reflect their benchmarks.
The block, called the move, quotes products across the square as “a milestone that reflects the strengths of our business and the work of thousands of people building tools to increase access to the economy.” Cache app, AfterPay, Tidal, Proto, and Bitkey.
Despite the rising prices, Bullock’s stock remains at 13% year-on-year.
Another Bitcoin Holder in the Index
Block has become the third public entity to join the S&P 500, which holds Bitcoin (BTC) Along with the Ministry of Finance, Tesla and Coinbase.
According to Bitcoin Treasuries data, Tesla is the 10th largest BTC holder of publicly listed companies, with a stash of 11,509 BTC, worth nearly $1.4 billion in reporting time. The company has the ninth largest weight in the index.
Coinbase It holds the spot as the 12th largest Treasury Department, with 9,267 BTC valued at around $1.1 billion. Along with companies like Intel and Doordash, it weighs 0.18% on the S&P 500.
The block became a company established by 8,584 BTC, combined with a weight of 0.09% in reported holdings Jack Dorsey Owner of $1 billion worth of Bitcoin.
Changes in perceptual risk
Block’s stock gatherings highlight how index mechanics intersect with emotions around fintech names.
S&P 500 membership can reduce perceived risk, expand shareholder bases, and attract institutional investors restricted to mandates.
Still, execution in the core business will determine whether the company is still replied. Square’s Merchant Services, Cash App’s Consumer Finance Suite, and Buy Now pay later, afterpay, remain the major revenue drivers.
At the same time, new initiatives such as the independent wallet bit key and the music platform Tidal will contribute to diversification.