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Robinhood Set to Join S&P 500 as Bitcoin Giant Strategy Misses Out

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In brief

  • Robinhood was added to the S&P 500
  • Publicly traded digital asset-focused firms have benefited from the friendlier regulatory and political environment of recent months.
  • The S&P 500 added crypto exchange Coinbase to the index in May.

Shares of Robinhood soared 7% in after hours trading after the retail brokerage, which focuses heavily on digital assets, was added to the S&P 500.

Robinhood (HOOD) soared past $108 per share after closing Friday a little above $101, according to Yahoo Finance. The company’s share price has soared more than 150% year-to-date.

HOOD will join the index on September 22, according to a press release from S&P Dow Jones Indices. Advertising technology firm AppLovin was also added by the index. S&P Dow Jones reshuffles the index on the first Friday of the last month of the third quarter, which ends in September.



But the S&P 500 will not include Bitcoin treasury firm Strategy, disappointing some observers. Strategy’s $95 billion market cap was large enough to meet the S&P’s threshold for inclusion. S&P-listed companies must be U.S.-based and have market values of more than $20 billion.

Shares of Tysons Corner, Virginia-based Strategy, formerly MicroStrategy, were down nearly 3% in after-market trading. Strategy holds more than $70 billion worth of Bitcoin and pioneered the digital assets treasury strategy that numerous other firms have since adopted.

The S&P decision underscores the growing might of digital asset-focused companies, which have benefited from the friendlier political and regulatory environment of recent months. Amid this shift, institutional investor interest in cryptocurrencies has risen, spurring big price gains among Bitcoin, Ethereum, and other leading assets and massive inflows to crypto-based exchange-traded funds.

Cryptocurrency exchange Coinbase  began trading on the S&P index on May 19.

In its second quarter, Robinhood posted a stronger-than-expected performance, surpassing analyst expectations, despite a cooldown in revenue from crypto trading.

The retail brokerage posted $989 million in total sales, up 45% from a year ago and beating analysts’ expectations of $913 million, according to MarketScreener data.

With an earnings per share mark of $0.42, Robinhood reported $386 million in second-quarter profits, up $50 million year-over-year and beating analyst expectations of $276.6 million.

Robinhood said that it generated $160 million in crypto trading revenue during the second quarter, a 98% increase from a year ago. However, the figure fell quarter-over-quarter from $252 million, as U.S. President Donald Trump’s trade war dominated headlines.

At the same time, transaction-based revenues for options and equities increased quarter-over-quarter, rising to $265 million and $66 million, respectively. After crypto trading boomed for Robinhood late last year, totaling $672 million in Q4, options-based income has become Robinhood’s main money maker again.

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Strategy Stock Falls as Robinhood Beats It to S&P 500 Inclusion

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Michael Saylor’s Strategy (MSTR) missed out on being added to the S&P 500 index on Friday, despite hopes of inclusion after the company posted one of the strongest quarters in its history and met all criteria for joining the index.

The stock of the largest corporate bitcoin BTC$110,637.97 holder declined nearly 3% after market hours, erasing all of Friday’s gains. The inclusion would have been a significant milestone for the company and for the industry as it would have exposed millions of average investors and portfolio managers to the company, potentially acting as a bullish catalyst.

In a surprise move on Friday, the digital trading platform Robinhood (HOOD), with growing crypto ambitions, was included in the S&P 500 index, driving the stock 7% higher after the market close. The changes will go into effect on September 22.

Before Friday, only two crypto-linked stocks were part of the index: Crypto exchange Coinbase (COIN) and Jack Dorsey’s Block (XYZ). Robinhood will now be added to this coveted list.

Read more: Strategy Qualifies for S&P 500, Inclusion Decision Could Come on Friday



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TON Gains Robinhood spot, but recovery to $8 peak remains elusive
Crypto Trends

TON Gains Robinhood spot, but recovery to $8 peak remains elusive

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While Robinhood’s listing provided a predictable, though modest, price jolt, the sobering reality for TON bulls is a chart still painted deep red. The token remains a staggering 60% down from its historic peak, a chasm that seems too wide for a single listing to bridge.

Summary

  • Robinhood adds TON spot trading on August 28, briefly lifting its price from $3.12 to $3.25.
  • TON remains 61.6% below its all-time high of $8.24 set in June 2024.
  • The listing puts Robinhood ahead of Coinbase, which has not yet launched TON trading.

On August 28, Robinhood confirmed the addition of The Open Network’s Toncoin (TON) spot trading to its crypto lineup, widening its roster beyond recent listings like SUI, FLOKI, ONDO, and PENGU.

The debut triggered a brief price reaction, with TON climbing from $3.12 to $3.25 before retracing gains to trade at $3.16 by press time, according to crypto.news data. The move puts Robinhood ahead of Coinbase, which has yet to roll out support for the Telegram-linked token.

The uphill climb: contextualizing TON’s muted response

Despite the positive catalyst, TON’s weekly chart remains in negative territory, with the token down over 4% in the past seven days. More significantly, it continues to trade a formidable 61.6% below its all-time high of $8.24, a peak established during the market euphoria of June 2024.

This substantial drawdown underscores a persistent challenge: while listings provide visibility, they often lack the fundamental firepower needed to reverse deep-seated bearish trends on their own. The asset is not just battling for new buyers but working to convince a cohort of bagholders who bought near the top that a recovery is imminent.

This tepid performance stands in stark contrast to the explosive moves seen across the broader altcoin market on the same day. While TON remained relatively flat, other tokens leveraged specific, high-impact ecosystem news to generate monumental rallies.

Cronos (CRO) skyrocketed over 18% following the announcement that Trump Media Group would anchor a $6.4 billion treasury on the token. Solana (SOL) surged 3% after DeFi Development Corp disclosed a massive $77 million SOL acquisition for its corporate treasury. Chainlink (LINK) saw a steady 2% climb after Caliber publicized its strategy to accumulate LINK tokens.

Perhaps the most telling comparison is with Pyth Network (PYTH), which erupted for a nearly 60% single-day gain. This monumental pump was not triggered by an exchange listing, but by a foundational development: a formal partnership with the U.S. Department of Commerce for onchain data verification.

This event provided a concrete utility and legitimacy boost that fundamentally altered the project’s value proposition, an outcome far more potent than the simple increased accessibility provided by a new trading venue.



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Robinhood, Strategy Shares Dip on S&P 500 Snub
Crypto Trends

Robinhood, Strategy Shares Dip on S&P 500 Snub

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Shares in trading platform Robinhood Markets and Bitcoin treasury firm Strategy fell in after-hours trading on Monday after missing out on being included in the S&P 500, amid a broader market dip.

S&P Dow Jones Indices said late Monday that brokerage Interactive Brokers Group would join the index tracking the 500 largest US companies at market open on Thursday and replace the pharmacy chain Walgreens Boots Alliance.

Wall Street has long been expecting Robinhood to join the S&P 500, and MicroStrategy, trading as Strategy, had recently become eligible for inclusion as its market cap has been boosted by the rising value of its Bitcoin (BTC) holdings.

Inclusion on the S&P 500 is typically seen as a boon for a company, as its shares would be scooped up by passive investors and other funds aiming to track the index.

Robinhood again snubbed from S&P 500

Shares in the crypto and stock trading platform Robinhood (HOOD) ended after-hours trading down 0.5% at $107.40 after closing trading on Monday at a 1.26% loss.

In comparison, Interactive Brokers (IBKR) saw a 3.9% lift in extended trading to $65.21 on the announcement of its inclusion after gaining less than 0.6% throughout the trading day, while the S&P 500 ended trading 0.4% down.

Source: Google Finance

Robinhood shares had also dropped in early June after S&P Dow Jones Indices announced there would be no changes to the S&P 500 in its quarterly rebalancing.

The company’s stock has, however, gained nearly 190% this year and has continued to break price records, seeing a lift from renewed retail investor enthusiasm.

Strategy also down on S&P miss and Bitcoin drop

Shares in the software firm Strategy (MSTR) also dropped on Monday, ending the day’s session down 4.17% and a further 0.6% in after-hours trading to $341.

Related: Bitcoin futures demand rises even as BTC sells off: What gives? 

The company’s stock fell alongside Bitcoin, which was down 2% in the past day after briefly slipping below $110,000.

S&P 500 inclusion is not just about stock price

A company’s inclusion on the S&P 500 is the decision of a committee who are guided by a range of criteria a company needs to meet before it is added.

A company needs to have a market capitalization of at least $22.7 billion, be based in the US and listed on the New York Stock Exchange, the Nasdaq or Cboe.

Its shares must also meet minimum requirements for market liquidity and volume.

Jack Dorsey’s financial services company, Block, Inc., was the latest crypto-tied company to make the index and joined the S&P 500 on July 23.

Magazine: Altcoin season 2025 is almost here… but the rules have changed



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NFT Gaming

Cathie Wood’s Ark Invest Scoops Up $37M in Bullish and Robinhood: A Bold Bet on Crypto’s Future?

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Cathie Wood’s Ark Invest has continued its aggressive push into crypto-related equities, scooping up $21.2 million in Bullish shares and $16.2 million in Robinhood stock on August 19, 2025.

The purchases, made through the firm’s flagship ARK Innovation ETF (ARKK), highlight Ark’s conviction in digital asset infrastructure even as broader crypto stocks tumbled.

According to Ark’s latest filing, the fund acquired 356,346 shares of Bullish and 150,908 shares of Robinhood.

This marks the third consecutive trading day Ark boosted its Robinhood position, following earlier buys of $14 million on Monday and $9 million last Friday. The moves expand Ark’s exposure to platforms shaping the future of trading and digital finance.

TOTAL saw significant losses on the daily chart. Source: TOTAL on Tradingview

Bullish and Robinhood Slide Amid Market Sell-Off

Despite Ark’s heavy buying, both stocks ended sharply lower on the day. Bullish dropped 6.09% to $59.51, slipping an additional 3.24% in after-hours trading, while Robinhood fell 6.54% to $107.50 and lost another 1.23% post-market.

The sell-off wasn’t isolated. Other crypto-linked equities also suffered, with Coinbase down 5.82%, Galaxy Digital plunging 10.06%, Strategy sliding 7.43%, and Circle off 4.49%.

The Nasdaq Composite fell 1.46% as investors pulled back ahead of the U.S. Federal Reserve’s Jackson Hole symposium, where policy signals are expected to shape market sentiment.

A Strategic Bet on Crypto’s Long-Term Growth

Ark’s latest move builds on a $172 million allocation to Bullish last week, when the Cayman Islands-based exchange made its highly anticipated debut on the New York Stock Exchange.

With Ark now holding more than 1.1 million Bullish shares valued at roughly $73.85 million, the firm is betting big on the platform’s role in the evolution of crypto markets.

Similarly, Robinhood has become one of Ark’s most consistent crypto-adjacent holdings. The recent spree increases its share of ARKK’s portfolio to over 4%, highlighting Ark’s belief in the platform’s long-term potential despite short-term volatility.

Wood’s investment strategy mirrors confidence in crypto’s ongoing institutional adoption, as firms like Gemini, OKX, and Kraken explore IPOs. Ark also maintains significant positions in Circle and Coinbase, further engraving its role as one of Wall Street’s most vocal champions of digital assets.

As volatility shakes out weaker hands, Ark’s contrarian bets may position it to capitalize if crypto markets rebound, raising the question: is this a bold gamble, or a long game in the market?

Cover image from ChatGPT, TotalCrypto chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Crypto Trends

Cathie Wood’s Ark Invest Buys $21.2M of Bullish Shares and $16.2M Robinhood Shares

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Cathie Wood’s Ark Invest has increased its exposure to crypto exchange operator Bullish (BLSH), with the ARK Innovation ETF (ARKK) now holding 1,165,397 shares valued at roughly $73.85 million, according to the firm’s latest holdings disclosure.

The update comes after Ark added 356,346 Bullish shares to ARKK on Aug. 19, a purchase worth about $21.2 million at the close of trading in New York, when the stock settled at $59.51 at close. The buy builds on Ark’s earlier allocation of more than 2.5 million shares spread across three ETFs on the day of Bullish’s debut.

Bullish is the owner of CoinDesk.

Ark also extended its buying spree in Robinhood (HOOD), purchasing 150,908 shares worth about $16.2 million at Tuesday’s close of $107.50.

Robinhood has become one of Ark’s most consistent crypto-adjacent holdings, with Tuesday’s purchase marking the third straight trading day the firm added to its position, following $14 million in buys on Monday and $9 million on Friday.

Read more: Bullish’s $1.15B in IPO Proceeds Was Entirely in Stablecoins—A First for Public Market



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