JPMorgan: S&P 500's refusal to include Strategy may impact encryption treasury development.

According to reports from 【比推】, JPMorgan analysts stated that the S&P 500 Index Committee rejected the inclusion of Strategy (formerly MicroStrategy) into the index last week, despite the company technically meeting the eligibility criteria, which is a blow to the Crypto Assets treasury.

J.P. Morgan analysts pointed out in a report on Wednesday that this rejection is not only a setback for Strategy but also a blow to the rapidly increasing number of similar companies in recent months. The analyst team led by Managing Director Nikolaos Panigirtzoglou stated that the index committee has discretion in the stock selection process, and this decision reflects a cautious attitude towards companies that convert their balance sheets into large holdings of Bitcoin.

Analysts point out that the exclusion of the S&P 500 may mean that the ability of this indirect channel to enter institutional and retail portfolios is approaching its limit. They added that the greater risk is that other index providers that have already included Strategy or other crypto treasury companies in their indices may reconsider their approach.