Shares of Block Inc. (NYSE:SQ ) crashed 20% on Thursday morning after Hindenburg Research put out a short report on the stock. As a result, many exchange traded funds with heavy weightings towards the parent company of payment processing service Square have also tilted to the downside.

SQ is currently held by 177 different ETFs. Listed below are the five names that have the largest stake in Jack Dorsey and Jim McKelvey’s payment processing platform, along with their allocation percentages. Wash Sink

ETFs with large weightings in SQ sink after Hindenburg report | Seeking Alpha

All five funds list Block Inc. in their top 5 holdings. BKCH labels SQ as its top holding, FDIG lists the company as its second-largest holding, whereas IBLC and ARKF put SQ as the ETFs' third-largest holding. Additionally, CRPT holds SQ as the fund's fourth most significant holding.

Thursday's price action: SQ -20.7% , BKCH -3.5% , FDIG -3.2% , CRPT -5.3% , IBLC -2.3% , and ARKF -1.6% .

Mirror Storage Bathroom Vanity For a different perspective from the one presented in the Hindenburg short report, Seeking Alpha contributor Deep Tech Insights described the company as posting "super" results for Q4, with "a dual growth engine ecosystem."