Crypto Bets Turn Sour? Robinhood, Strategy Shares Plunge as They Won’t Be Included in S&P 500

Shares of trading platform Robinhood Markets Inc (NASDAQ: HOOD) and Bitcoin BTC $110 126 24h volatility: 1.3% Market cap: $2.19 T Vol. 24h: $56.01 B treasury giant Strategy Inc (NASDAQ: MSTR) slid in after-hours trading on Aug. 25 after the companies were passed over for inclusion in the S&P 500.

The announcement from S&P Dow Jones Indices favored Interactive Brokers Group Inc (NASDAQ: IBKR), which will join the index on Aug. 28, replacing Walgreens Boots Alliance Inc (NASDAQ: WBA).

Robinhood Snub Sends Shares Lower

Wall Street had long anticipated Robinhood’s addition to the benchmark index, especially after its nearly 190% rally in 2025, fueled by retail enthusiasm and record-breaking stock highs.

But once again, the company was overlooked, triggering a modest sell-off. Robinhood shares dropped 1.26% during Monday’s session to $107.40 and slid another 0.65% after hours.

On the other hand, Interactive Brokers gained nearly 4.29% to $65.21 on Aug. 25 and is up 0.5% in the after-hours trading session.

This marks the second time in recent months that Robinhood has been left out. Back in June, S&P Dow Jones announced no changes to the index, leaving HOOD out.

Strategy Stumbles amid Bitcoin Drop

Strategy (formerly MicroStrategy) was also a candidate for S&P 500 inclusion after its market cap rose with Bitcoin’s rise to new all-time highs.

However, the company was left out, and its shares fell 4.17% to $341 on Monday, followed by another 0.09% decline in after-hours trading.

Bitcoin also slipped below $110,000, dropping as low as $108,000. Analysts expect the leading digital asset to soar in the fourth quarter of the year alongside the broader market, placing BTC among the next crypto to explode.

Relentless Bitcoin Accumulation

Strategy recently disclosed a $356.9 million purchase of 3,081 BTC at an average price of $115,829 per coin, bringing its total holdings to 632,457 BTC worth $46.5 billion at an average cost of $73,527.

Michael Saylor’s company acquired 3,666 BTC in August alone, though that figure is significantly lower than July’s 31,466 BTC.

Strategy has also raised its 2025 performance targets, boosting its Bitcoin yield KPI goal from 25% to 30% and projecting BTC gains from $15 billion to $20 billion.

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