VanEck Executive: 'Block Could Be the First Bitcoin-Holding Company to Join the S&P 500'

Source=Matthew Sigel X

There is a claim that a company holding Bitcoin (BTC) could be included in the Standard & Poor's (S&P) 500 index.

On the 9th (local time), Matthew Sigel, head of digital asset research at VanEck, stated on X, "The mobile payment company Block could be included in the S&P 500," adding, "(If included) it would be the first case of a Bitcoin-holding company joining the S&P 500." He continued, "Block has met all the index inclusion requirements after announcing its first-quarter 2024 results," and expressed optimism by saying, "Generally, companies that meet all the requirements are included in the S&P 500 index within 3 to 21 months."

He noted, "The inclusion in the S&P 500 is ultimately decided at the discretion of the index committee," but also predicted, "As the committee aims to align the S&P 500 composition ratio with the overall S&P market index ratio, inclusion in the financial sector could occur." According to Sigel, the current proportion of the financial sector in the S&P 500 is 13.9%, which is lower than the financial ratio of the overall S&P market index (14.6%).

Meanwhile, the conditions for inclusion in the S&P 500 are: △ a market capitalization of over $18 billion △ more than 10% of publicly traded shares △ positive net income in the most recent quarter △ positive net income sum for the previous four quarters △ high liquidity △ 12 months elapsed since the initial public offering (IPO) △ headquarters located in the United States.