Payments

While firms like Tesla are already in the S&P 500, VanEck’s Matthew Sigel says Block Inc. could be the first company in the index with an “explicit strategy” for accumulating Bitcoin.

Financial services and digital payments company Block Inc. may become the first company with an “explicit” Bitcoin strategy to be listed in the S&P 500, according to the head of digital assets research at VanEck, Matthew Sigel.

Sigel explained his reasoning on X on Jan. 9, stating that for a stock to be added to the index, which comprises the stocks of the top 500 US companies by market capitalization, six main criteria must be met.

To get listed, the firm must have a market cap greater than $18 billion, a public float of greater than 10%, and the most recent quarter’s earnings should be positive. The sum of the previous four quarters’ GAAP (Generally Accepted Accounting Principles) earnings should also be positive; it should have high liquidity, more than 12 months of IPO (Initial Public Offering) seasoning, and be domiciled in the United States, said the VanEck executive. 

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