Bitcoin News Today: S&P 500 Overlooks Bitcoin Giant, Elevates Robinhood in Surprising Shake-Up

Michael Saylor's MicroStrategy (MSTR) was not selected for inclusion in the S&P 500 index on September 5, 2025, despite meeting all established criteria for addition. The announcement caused the company’s stock to drop nearly 3% after market hours, erasing gains from the previous trading session. This exclusion came as a surprise to many, given that MicroStrategy reported one of its strongest quarters on record and had been widely speculated to be on the index's review list. Inclusion in the S&P 500 would have marked a significant milestone for the company and the broader crypto industry by introducing the firm to a wider audience of investors and portfolio managers [1].

Conversely, Robinhood (HOOD) was unexpectedly added to the index, sending its stock up by 7% after the market closed. The change is set to become effective on September 22, according to the S&P 500 review process. Robinhood’s inclusion underscores the increasing relevance of digital trading platforms and their role in the evolving financial landscape. The decision appears to reflect a strategic shift by S&P Dow Jones Indices to include firms that are shaping new investor behaviors and expanding access to financial markets [1].

Prior to this decision, only two crypto-related stocks—Coinbase (COIN) and Block (XYZ)—were already part of the S&P 500. Robinhood’s addition now brings the total to three, highlighting the index's continued openness to companies with strong digital and fintech exposure. Analysts noted that Robinhood’s user base and growing crypto capabilities likely played a role in the decision, as the firm is increasingly seen as a bridge between traditional finance and emerging digital asset markets [1].

MicroStrategy’s exclusion raises questions about the methodology and timing of S&P 500 inclusion decisions. While the company’s market capitalization and financial performance appeared to meet the criteria, the final decision appears to hinge on factors not publicly disclosed by S&P Dow Jones Indices. The firm has yet to issue a public statement commenting on the exclusion, but market observers suggest that Saylor may continue to advocate for broader institutional adoption of Bitcoin through alternative means [1].

The market reaction highlights the symbolic and practical value of S&P 500 inclusion. For Robinhood, the inclusion is expected to increase liquidity and visibility for the stock, potentially drawing in a broader range of institutional investors. For MicroStrategy, the delay in inclusion may have immediate cost implications, including a potential reduction in passive fund inflows and investor interest. However, the long-term impact on the company’s valuation and growth trajectory remains to be seen, as it continues to strengthen its position as the largest corporate holder of Bitcoin [1].

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Source:

[1] MSTR News: Strategy Stock Falls as Robinhood Beats It to ... (https://www.coindesk.com/business/2025/09/05/michael-saylor-s-strategy-snubbed-by-s-and-p-500-amid-robinhood-s-surprise-inclusion)