Bitcoin Giant MicroStrategy Denied Coveted S&P 500 Inclusion

In a significant setback for the publicly-traded Bitcoin investment vehicle, MicroStrategy Inc. has been passed over for inclusion in the benchmark S&P 500 index. The exclusion comes despite the company meeting all formal quantitative criteria and represents a major disappointment for investors who had anticipated the milestone. The selection of other firms, including AppLovin, Robinhood Markets, and Emcor Group, for the prestigious index only heightens the scrutiny around the decision.

Market participants reacted swiftly to the news. In extended trading sessions, MicroStrategy shares declined between two and three percent as the market digested the announcement. A key anticipated benefit of inclusion—automatic buying from the vast array of index funds and ETFs that track the S&P 500—will now not materialize. This absence of institutional inflows Read more...