Crypto in risk factors
How many S&P 500 companies write about bitcoin, cryptocurrency, digital assets or blockchain in the risk factors of their annual report, year by year since 2017, and who started when. Each company links to its risk factor changes.
Companies mentioning crypto, by year
| Annual report for | Reports read | Mention crypto | Share | Crypto terms / digital assets only |
|---|---|---|---|---|
| 2017 | 251 | 8 | 3% | 6 / 2 |
| 2018 | 318 | 12 | 4% | 9 / 3 |
| 2019 | 366 | 17 | 5% | 14 / 3 |
| 2020 | 407 | 24 | 6% | 21 / 3 |
| 2021 | 434 | 35 | 8% | 32 / 3 |
| 2022 | 447 | 39 | 9% | 36 / 3 |
| 2023 | 464 | 44 | 9% | 40 / 4 |
| 2024 | 473 | 48 | 10% | 43 / 5 |
| 2025 | 479 | 62 | 13% | 53 / 9 |
| 2026 | 39 | 3 | 8% | 3 / 0 |
Orange: the risk factors use a crypto term (bitcoin, cryptocurrency, crypto asset, blockchain, ethereum, stablecoin). Grey: only “digital assets” or “distributed ledger”, which some companies use for other things. Latest reports are still coming in for the newest year.
2025: 62 of 479 companies
| Company | Sector | Crypto terms | Digital assets | Risk factor changes |
|---|---|---|---|---|
| Coinbase Global (COIN) | Finance Services | 582 | 5 | Compare reports |
| Robinhood Markets (HOOD) | Security Brokers, Dealers & Flotation Companies | 413 | 19 | Compare reports |
| Block (XYZ) | Services-Prepackaged Software | 84 | 1 | Compare reports |
| Interactive Brokers Group (IBKR) | Security Brokers, Dealers & Flotation Companies | 44 | 7 | Compare reports |
| PayPal Holdings (PYPL) | Services-Business Services, NEC | 29 | 4 | Compare reports |
| Reddit (RDDT) | Services-Computer Processing & Data Preparation | 18 | 0 | Compare reports |
| Truist Financial (TFC) | National Commercial Banks | 16 | 10 | Compare reports |
| Corpay (CPAY) | Services-Business Services, NEC | 15 | 0 | Compare reports |
| NVIDIA (NVDA) | Semiconductors & Related Devices | 14 | 0 | Compare reports |
| Visa (V) | Services-Business Services, NEC | 11 | 3 | Compare reports |
| Regions Financial (RF) | National Commercial Banks | 10 | 1 | Compare reports |
| Goldman Sachs Group (GS) | Security Brokers, Dealers & Flotation Companies | 9 | 14 | Compare reports |
| Capital One Financial (COF) | National Commercial Banks | 9 | 1 | Compare reports |
| Apollo Global Management (APO) | Investment Advice | 8 | 12 | Compare reports |
| Fiserv (FISV) | Services-Business Services, NEC | 8 | 0 | Compare reports |
New this year (2025)
Apollo Global Management, American Express, Bank of America, Brown & Brown, CME Group, CenterPoint Energy, Corpay, Fiserv, Goldman Sachs Group, JPMorgan Chase, Regions Financial, Charles Schwab, Walmart, BlackRock, Home Depot, T. Rowe Price Group.
First mentions
| Company | First year | Kind |
|---|---|---|
| Jack Henry & Associates (JKHY) | 2026 | Crypto term |
| Apollo Global Management (APO) | 2025 | Crypto term |
| American Express (AXP) | 2025 | Crypto term |
| Bank of America (BAC) | 2025 | Crypto term |
| Brown & Brown (BRO) | 2025 | Crypto term |
| CME Group (CME) | 2025 | Crypto term |
| CenterPoint Energy (CNP) | 2025 | Crypto term |
| Corpay (CPAY) | 2025 | Crypto term |
| Fiserv (FISV) | 2025 | Crypto term |
| Goldman Sachs Group (GS) | 2025 | Crypto term |
| JPMorgan Chase (JPM) | 2025 | Crypto term |
| Regions Financial (RF) | 2025 | Crypto term |
| Charles Schwab (SCHW) | 2025 | Crypto term |
| Walmart (WMT) | 2025 | Crypto term |
| BlackRock (BLK) | 2025 | Digital assets only |
| Home Depot (HD) | 2025 | Digital assets only |
| T. Rowe Price Group (TROW) | 2025 | Digital assets only |
| Ameren (AEE) | 2024 | Crypto term |
| Fifth Third Bancorp (FITB) | 2024 | Crypto term |
| Gen Digital (GEN) | 2024 | Crypto term |
| Huntington Bancshares (HBAN) | 2024 | Crypto term |
| Marathon Petroleum (MPC) | 2024 | Crypto term |
| Microsoft (MSFT) | 2024 | Crypto term |
| Reddit (RDDT) | 2024 | Crypto term |
| State Street (STT) | 2024 | Crypto term |
The first year in the annual reports since 2017 that we read. A company that already mentioned crypto in 2017 shows 2017.
By sector (2025)
| Sector | Companies mentioning | Companies in the sector |
|---|---|---|
| National Commercial Banks | 8 | 8 |
| Services-Business Services, NEC | 6 | 16 |
| Investment Advice | 6 | 8 |
| Security Brokers, Dealers & Flotation Companies | 5 | 6 |
| State Commercial Banks | 5 | 5 |
| Insurance Agents, Brokers & Service | 4 | 6 |
| Electric & Other Services Combined | 3 | 12 |
| Electric Services | 3 | 14 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 3 | 3 |
| Semiconductors & Related Devices | 2 | 15 |
| Services-Prepackaged Software | 2 | 19 |
| Finance Services | 2 | 2 |
| Petroleum Refining | 2 | 5 |
| Services-Computer Programming Services | 2 | 2 |
| Services-Computer Processing & Data Preparation | 1 | 4 |
| Water Supply | 1 | 1 |
| Water Transportation | 1 | 3 |
| Retail-Variety Stores | 1 | 5 |
| Rubber & Plastics Footwear | 1 | 2 |
| Retail-Lumber & Other Building Materials Dealers | 1 | 2 |
| Computer & office Equipment | 1 | 3 |
| Gold and Silver Ores | 1 | 1 |
| Wholesale-Electronic Parts & Equipment, NEC | 1 | 1 |
We read Item 1A (risk factors) of every annual report (10-K) since 2017 and count the terms; the filings themselves are on each company’s page. A mention is not a holding: many companies only warn that crypto affects their customers, payments or competitors. Companies that report crypto they hold show a Crypto holdings block on their company page. Sectors are the industry groups used across StockYears. Last updated 2026-10-22.