VanEck Head of Digital Assets Research: Block is expected to be included in the S&P 500, becoming its first publicly traded company to hold Bitcoin

ChainCatcher news, VanEck's Head of Digital Asset Research Matthew Sigel pointed out that the fintech company Block is expected to become the first publicly traded company in the S&P 500 index to hold Bitcoin.

After achieving profitability in the first quarter of 2024, the company has met all the inclusion criteria for the S&P 500, including a market capitalization of over $18 billion, a public float of over 10%, and profitability for five consecutive quarters. According to historical data, eligible companies are typically included within 3 to 21 months (except for LULU, which took 65 months).

Sigel noted that the current financial sector's share in the S&P 500 is 13.9%, lower than the overall market level of 14.6%, which is favorable for Block's inclusion as a financial stock in the index.