Block (Square) Joins S&P 500 Index

July 22, 2025 • FinTech News

Block Enters the S&P 500
Block, the fintech company founded by Jack Dorsey and formerly known as Square, is joining the prestigious S&P 500 index. The company will replace oil giant Hess Corp on July 23. Following the announcement, Block’s shares jumped nearly 10% in pre-market trading.

A Big Win for Fintech
Block’s inclusion in the index marks a major moment for the fintech industry. Best known for products like Cash App and the Square POS system, Block recently added support for real-time Bitcoin transactions. This move shows the growing role of digital payments in mainstream finance.

Second Fintech to Join in 2024
Interestingly, Block is the second fintech to enter the S&P 500 this year. In May, Coinbase took over the spot of Discover Financial Services. These changes reflect a shift in how traditional financial indexes now embrace digital finance.

Block Celebrates the Milestone
In an official statement, Block said: “It’s a milestone that reflects the strength of our business and the work of thousands of people building tools to increase access to the economy.” The company also highlighted its brands, including Afterpay, Tidal, Proto, and Bitkey.

What This Means for Investors
Joining the S&P 500 often brings more investor attention. It can also lead to increased institutional buying, especially from funds that track the index. Block’s entry confirms its position as a key player in the evolving global payments space.