Jack Dorsey's Block will be included in the S&P 500 index on July 23rd

According to The Block, Jack Dorsey's payment platform Block Inc will be included in the S&P 500 index on July 23rd. After the news was confirmed later on Friday, the stock rose 10% in after hours trading. Block Inc is a technology company that operates multiple business units in the digital asset ecosystem. Its Bitkey brand is a simple self hosted wallet built for Bitcoin, while Proto is a set of Bitcoin mining products and services. Last summer, Block began investing 10% of its Bitcoin profits in BTC every month and open-source its financial blueprint so that others could follow suit. It was previously reported on July 19th that Block would join the S&P 500 index, but no specific time was mentioned.