Crypto Goes Mainstream: Yet Another Digital Asset Firm Cracks the S&P 500 Elite

Wall Street's old guard just got another crypto-shaped thorn in its side.

Another blockchain-native company has smashed its way into the S&P 500—proving digital assets aren't just surviving in traditional finance, they're thriving. The inclusion marks a watershed moment for the industry that bankers swore would never last.

No hype, no asterisks: pure market cap muscle.

The silent revolution continues as crypto infrastructure builders quietly eat the financial establishment's lunch. First they ignored decentralized tech, then they laughed at it, now they're being forced to index it. (Cue the obligatory 'but the fees!' whine from legacy fund managers.)

One question remains: which crypto-adjacent giant climbs into the index next—and how long until the S&P needs a 'Web3' subcategory?

Block Becomes Second Crypto-Aligned Firm in S&P 500 After Coinbase

Originally launched as Square in 2009, Block began as a payment services provider before investing in Bitcoin infrastructure.

Through Cash App and its corporate treasury, the firm has seamlessly integrated cryptocurrency into its offerings, positioning itself as a key player in the emerging financial space.

The company’s inclusion in the S&P 500 reflects its ability to meet the index’s stringent criteria. These include sustained profitability, significant market capitalization, and strong liquidity.

The S&P 500 is viewed globally as a barometer of economic strength, and its constituents are often favored by institutional investors seeking long-term value.

This development marks a significant milestone for cryptocurrency-aligned companies in traditional finance.

With Block’s entry, it becomes the second crypto-focused company to join the index, following Coinbase, the largest US-based crypto exchange.

Notably, Block’s addition also brings the total number of S&P 500 companies with direct bitcoin exposure to three, joining Coinbase and Tesla.

“Strategy’s S&P 500 inclusion (when it happens) will be the single greatest catalyst for mass corporate Bitcoin adoption this cycle,” Ben Pham, the chief financial officer of asset management firm, Strive, said.

The move comes at a time when the crypto market is experiencing renewed optimism. The approval of new pro-crypto laws like the GENIUS and CLARITY Act in the US is fueling this renewed sentiment.

Additionally, Bitcoin and ethereum prices rose to new highs during the past week. The surge came amid stronger institutional interest in the emerging sector.

Market analysts anticipate that these developments will further accelerate the mainstream adoption of cryptocurrency. They also believe this could increase the likelihood of other crypto-focused companies entering high-profile indexes like the S&P 500.

Given this momentum, speculation is growing that other crypto-heavy firms like Strategy (formerly MicroStrategy) could join the index next. Led by Michael Saylor, Strategy holds over 600,000 BTC, making it the largest public holder of Bitcoin.