Robinhood is a digital trading platform with growing crypto ambitions. “Why wasn’t $MSTR allowed into the S&P 500 Index despite meeting all the criteria?” asked Bloomberg ETF analyst Eric Balchunas in a post on X. Nasdaq’s new position on digital asset treasury formations doesn’t affect Strategy, our ATMs or our other capital markets activities. — Strategy (@Strategy) September 5, 2025The tightening review comes after a wave of new companies are starting to raise capital from investors through equity sales in order to grow a crypto treasury. Strategy is the leading crypto treasury firm with 636,505 BTC worth $70.57 billion on its balance sheet, according to data from BiTBO.