PANews reported on September 11th that, according to CoinDesk, despite meeting the technical eligibility criteria, Strategy (MSTR)'s application to join the S&P 500 index was rejected. JPMorgan Chase believes this indicates the market's growing caution toward companies acting as Bitcoin funds. The decision not only frustrated Strategy, but also dealt a blow to companies that have followed its model of accumulating Bitcoin on their balance sheets. JPMorgan Chase pointed out that the inclusion of Strategy in other major benchmark indices, such as the Nasdaq 100 and MSCI, has quietly opened a backdoor for Bitcoin to enter retail and institutional portfolios, but the S&P 500's decision may mark the limit of this trend and may prompt other index providers to reconsider the inclusion of existing Bitcoin-weighted companies. JPMorgan Chase noted that Nasdaq's requirement for shareholder approval before issuing new shares to purchase cryptocurrencies has exacerbated pressure. Strategy has abandoned its commitment to non-dilution and is willing to issue shares at low price-to-earnings ratios to purchase cryptocurrencies. Currently, corporate crypto reserves are facing weak stock prices, slowing issuance, and waning investor interest, raising questions about the sustainability of their models. Investors and index providers may favor crypto companies with actual operating businesses.PANews reported on September 11th that, according to CoinDesk, despite meeting the technical eligibility criteria, Strategy (MSTR)'s application to join the S&P 500 index was rejected. JPMorgan Chase believes this indicates the market's growing caution toward companies acting as Bitcoin funds. The decision not only frustrated Strategy, but also dealt a blow to companies that have followed its model of accumulating Bitcoin on their balance sheets. JPMorgan Chase pointed out that the inclusion of Strategy in other major benchmark indices, such as the Nasdaq 100 and MSCI, has quietly opened a backdoor for Bitcoin to enter retail and institutional portfolios, but the S&P 500's decision may mark the limit of this trend and may prompt other index providers to reconsider the inclusion of existing Bitcoin-weighted companies. JPMorgan Chase noted that Nasdaq's requirement for shareholder approval before issuing new shares to purchase cryptocurrencies has exacerbated pressure. Strategy has abandoned its commitment to non-dilution and is willing to issue shares at low price-to-earnings ratios to purchase cryptocurrencies. Currently, corporate crypto reserves are facing weak stock prices, slowing issuance, and waning investor interest, raising questions about the sustainability of their models. Investors and index providers may favor crypto companies with actual operating businesses.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more