According to PANews, Matthew Sigel, head of digital asset research at VanEck, said that fintech company Block is expected to become the first company in the S&P 500 to hold Bitcoin.
To be included in the S&P 500, a stock must meet six criteria, including a market capitalization of more than $18 billion, more than 10% public float, positive GAAP earnings in the most recent quarter and the previous four quarters, high liquidity, listing for at least 12 months, and a company headquarters in the United States.
Block meets the last criterion after the release of its first quarter earnings report in 2024. However, inclusion in the S&P 500 is determined by the index committee, and companies that meet the requirements have historically been included within three to 21 months.
Sector diversification is one of the factors the index committee considers, and the financial sector accounts for 13.9% of the S&P 500 and 14.6% of the broader index, indicating that the financial sector still has room to grow.
