According to Matthew Sigel, the head of digital assets research at VanEck, Block, a financial services and digital payments company, has the potential to become the first company with a clear Bitcoin strategy to be added to the S&P 500.
This is based on the six criteria that need to be met for a company to be listed on the index, which includes a market capitalization of at least $18 billion, a public float of over 10%, positive earnings for the most recent quarter and the previous four quarters, high liquidity, more than 12 months since its initial public offering, and being based in the United States.
While Block meets the earnings criteria after the first quarter of 2024, it ultimately depends on the discretion of the Index Committee for inclusion.
In the past, companies that met all requirements have been added to the S&P 500 within three to 21 months.
