Crypto Currents: Block to join S&P 500 as Thiel-backed Bullish files for IPO

In a significant week for the digital asset industry’s integration with traditional finance, Jack Dorsey’s Block (XYZ) is set to join the S&P 500 while Peter Thiel-backed exchange Bullish (BLSH) files for a public offering. As major crypto-focused companies achieve new milestones on Wall Street, the lines between digital finance and the mainstream economy continue to blur. Stay up on the crypto news that matters with “Crypto Currents,” daily from The Fly. Join us 2PM daily for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio, available to subscribers at TheFly.com. Also, subscribe to our YouTube channel for the Crypto Fly By weekly recap.

WALL STREET INTEGRATION ACCELERATES: Institutional confidence in the broader digital asset space continues to grow, a trend highlighted by two major milestones for crypto-focused companies on Wall Street. Block (XYZ), the financial technology firm led by CEO Jack Dorsey, is set to be added to the S&P 500 index, a landmark achievement signaling the maturation of companies with significant bitcoin exposure. In a further sign of the industry’s public market push, Bullish, the crypto exchange backed by billionaire Peter Thiel, has officially filed for an initial public offering on the New York Stock Exchange under the ticker symbol “BLSH”. The offering is being led by JPMorgan, Jefferies, and Citigroup.

ETHEREUM TARGETS NOVEMBER FOR ‘FUSAKA’ UPGRADE: Ethereum core developers have announced a target launch date of November 2025 for the network’s next major hard fork, codenamed “Fusaka.” The upgrade is set to introduce ‘verifier sharding,’ a key scaling solution designed to significantly increase the blockchain’s transaction processing capacity and lower fees. The announcement, made during the latest All Core Devs call, has been met with optimism from the developer community, as it marks a critical step in the network’s long-term roadmap for scalability.

PRICE ACTION: As of time of writing, bitcoin (BTC) was trading at $118,923.92, while ethereum (ETH) was $3,846.64.