最新报道:The S&P 500's inclusion of Coinbase in May 2025 marked a milestone for crypto-native firms, yet its exclusion of Strategy—despite meeting quantitative criteria—highlights the index committee's subjective gatekeeping. While Coinbase was embraced as a regulated bridge to traditional finance, Strategy's heavy reliance on Bitcoin gains and volatility led to its rejection, underscoring institutional preference for diversified revenue and stability over speculative crypto exposure.