Key Takeaways
- Block has joined the S&P 500, increasing bitcoin exposure for index investors.
- Block holds 8,584 BTC, making it the 13th-largest corporate holder.
- Coinbase and Tesla are the other S&P 500 companies with major bitcoin holdings.
Jack Dorsey’s payments company Block was added to the S&P 500 index on Wednesday, making it the third company with notable Bitcoin holdings to join the high-profile equity benchmark.
Block’s bitcoin reserves
Block currently holds 8,584 bitcoin, valued at around $1 billion, ranking it as the 13th-largest corporate holder according to Bitbo Treasuries.
The company’s shares on the NYSE have surged nearly 14% in the past five days following the S&P 500 inclusion announcement.
To be listed on the S&P 500, a company must have a market capitalization above $18 billion, a public float exceeding 10%, and positive earnings in the most recent quarter.
Block replaces Hess Corp, which exited the index after a $55 billion merger with Chevron.
More bitcoin exposure for equity investors
The S&P 500 represented $50 trillion in market capitalization at the end of Q1 2025.
With Block’s addition, investors in S&P 500-tracking funds gain further indirect exposure to bitcoin.
Commenting on social media, OnlyCalls wrote:
Institutional entrance solidifies BTC’s financial visibility. Expect more conservative entities to consider BTC as a viable treasury asset.
Comparison to coinbase and tesla
Block joins Coinbase and Tesla as S&P 500 members with significant bitcoin reserves.
Coinbase holds 9,267 BTC (about $1.1 billion), while Tesla holds 11,509 BTC (about $1.4 billion).
Over the past month, Coinbase shares have risen 28.4%, outpacing the overall bitcoin market’s 23% gain, while Tesla’s shares have declined 4.6%.
