Block to Become First Public Company With Bitcoin in its Treasury to Enter S&P 500
According to VanEck’s head of digital assets research, Matthew Sigel, Block may become the first publicly listed company to hold Bitcoin in its treasury and be added to the S&P 500 Index within the next 21 months.
This achievement is based on their recent strong first-quarter earnings report, which reportedly cleared the final hurdle for listing. To be included in the S&P 500, a company must meet six main criteria, including a market cap of over $18 billion and publicly trading at least 10% of its shares.
They must also have positive GAAP earnings for the most recent quarter and the last four quarters, high trading volume and liquidity, and a track record of at least 12 months after being listed with a headquarters in the US.
However, the decision to include a company in the index ultimately rests with the S&P Index Committee and takes an average of 3 to 21 months. The exact timeline for Block’s potential inclusion is uncertain, but it could take up to 65 months, like in the case of Lululemon Athletica (LULU).
