The crypto community was left disappointed as MicroStrategy (Nasdaq: MSTR) couldn't join the S&P 500 index after the rebalance on Sep. 5.
However, Robinhood Markets (Nasdaq: HOOD), the electronic trading exchange offering stocks and crypto assets, joined the club.
The S&P 500 Index is a list of 500 of the largest public companies in the U.S., and only two crypto companies had made it to the index so far.
Related: What is Crypto? Cryptocurrency explained
MicroStrategy snubbed
Led by co-founder and executive chairman Michael Saylor, the enterprise software-turned-digital asset treasury firm holds 636,505 BTC worth approximately $70 billion at the time of writing.
Though the popular Bitcoin investor Lark Davis had predicted earlier this week that the firm could join the list, the news turned out to be a disappointment.
The MSTR stock closed at $335.87, up 2.53% in a day. However, it fell 2.64% to $326.99 in after hours.
Robinhood third crypto firm to join the club
Led by co-founder and CEO Vladimir Tenev, Robinhood courted controversy when it announced the launch of tokenized stocks belonging to companies like OpenAI in June.
The crypto community was ecstatic to hear of the latest announcement as Robinhood is only the third crypto-focused publicly traded company to join the much-coveted index.
The HOOD stock closed at $101.25, down 1.61% a day. But it soared 7% to $108.40 in after hours.
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Crypto companies and S&P 500
Prior to Robinhood, Coinbase (Nasdaq: COIN) and Block, Inc. (NYSE: XYZ) had made it to the S&P index.
Billionaire Brian Armstrong-led Coinbase, the largest crypto exchange in the U.S., joined it in mid-May.
Twitter founder and billionaire Jack Dorsey’s Block, Inc., a fintech firm with a particular focus on Bitcoin, joined it in late July.
New S&P 500 entrants
Robinhood is joined by AppLovin Corp. (Nasdaq: APP), a mobile app marketing company, and Emcor Group Inc. (Nasdaq: EME), a construction and facilities services firm.
The three companies will join the index prior to the start of trading on Sept. 22.
This story was originally reported by TheStreet on Sep 5, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
