Wall Street Meets Web3: Fintech ETFs, SPY, VOO To Get Jack Dorsey Upgrade As Block Joins S&P 500
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Block Inc. Joins S&P 500: Block Inc., known for its Square and Cash App, has been added to the S&P 500 index, resulting in an almost 8% rise in its stock price and requiring index-tracking ETFs like SPY and VOO to purchase millions of shares to maintain their representation.
Impact on Fintech ETFs: The inclusion of Block in the S&P 500 is expected to enhance the visibility and acceptance of fintech themes among investors, benefiting related ETFs such as ARKF and FINX, which have significant holdings in Block and may experience increased demand and valuation improvements.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
