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Robinhood Markets Inc. (HOOD) surged 6% in after-hours buying and selling after being added to the S&P 500 inventory index, whereas Michael Saylor’s Technique Inc. (MSTR) missed out regardless of assembly the index’s inclusion standards.
The S&P 500 modifications will take impact on September 22. At the moment, solely two different crypto-linked firms, Coinbase (COIN) and Block (XYZ), are listed within the index.
Robinhood is a digital buying and selling platform with rising crypto ambitions. Its crypto enterprise generated income of $160 million within the second quarter this 12 months, or 16% of the full. Crypto income was down from $252 million within the earlier quarter.
Technique Shares Plunge
Technique fell virtually 3% in after-hours buying and selling, bringing its month-to-month loss to greater than 12%, in accordance to Google Finance.
MSTR share worth (Supply: Google Finance)
Technique’s snub got here after the main Bitcoin treasury firm posted one of many strongest quarters in its historical past, with $10 billion in internet revenue.
“Why wasn’t $MSTR allowed into the S&P 500 Index regardless of assembly all the factors?” requested Bloomberg ETF analyst Eric Balchunas in a put up on X. “As a result of the ‘Committee’ mentioned no. It’s a must to understand SPX is actually an energetic fund run by a secret committee.”
Nasdaq’s New Place On Crypto Treasuries Not An Concern, Says Technique
Technique stays listed on Nasdaq, an alternate that’s tightening necessities for firms that use debt financing to buy crypto, a transfer that Technique pioneered.
In keeping with a report by The Data earlier this week, Nasdaq has began requiring shareholder votes for some offers and can be pushing for extra disclosures. This might result in the index suspending buying and selling and even delisting some firms that fail to conform, in response to the report, which cited insiders acquainted with the matter.
Technique responded to the information on X, saying that Nasdaq’s new place on digital asset treasury formations doesn’t have an effect on Technique, its ATMs or different capital market actions.
Nasdaq’s new place on digital asset treasury formations doesn’t have an effect on Technique, our ATMs or our different capital markets actions.
— Technique (@Technique) September 5, 2025
The tightening evaluate comes after a wave of latest firms are beginning to elevate capital from traders by fairness gross sales with a purpose to develop a crypto treasury. For the reason that starting of the 12 months, 154 US-listed firms have introduced plans to lift roughly $98.4 billion to purchase crypto.
Technique is the main crypto treasury agency with 636,505 BTC price $70.57 billion on its steadiness sheet, in response to knowledge from BiTBO. The corporate’s most up-to-date purchase was on Sept. 2, when the agency purchased 4,048 BTC for $449.3 million.
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