Block Officially Joins the S&P 500 — Crypto Stocks Gain Mainstream Momentum
TradingKey – Following Coinbase’s inclusion earlier this year, Block (XYZ) has officially joined the S&P 500 index, further elevating the status of crypto-related equities.
On Thursday, July 24, Block was formally added to the S&P 500, marking a major milestone for the crypto-fintech sector. As of publication, Block holds 8,584 BTC, valued at approximately $1 billion, making it one of the largest corporate Bitcoin holders.
Stock Surge & Analyst Upgrades
- Block’s inclusion announcement on July 18 triggered a 10%+ after-hours rally.
- This week, the stock continued climbing, reaching $79, filling the gap left from its February 21 decline.
- J.P. Morgan raised its price target from $60 to $90, citing momentum from product innovation and index inclusion.
Block Stock Chart – Source: TradingView
Crypto Stocks Enter the Mainstream
Block’s entry follows Coinbase (COIN), which joined the S&P 500 on May 19, signaling growing institutional acceptance of crypto-native firms. Analysts expect Robinhood (HOOD) and Strategy (MSTR) could be next in line, as crypto equities gain traction in traditional portfolios.
This wave of inclusions reflects a broader shift: crypto is no longer fringe — it’s becoming part of the financial core.
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