$MSTR - S&P 500 REJECTION A SETBACK FOR MICROSTRATEGY AND CRYPTO TREASURIES: JPMORGAN JPMorgan said the S&P 500 committee’s decision to block MicroStrategy’s inclusion is a major setback for corporate crypto treasuries. The move signals reluctance to treat bitcoin-heavy firms as eligible for the benchmark index. While MicroStrategy is included in other indices, JPMorgan warned this rejection could prompt index providers to reconsider crypto-linked companies. The bank also noted growing investor fatigue, weaker issuance, and rising risks to the sustainability of corporate crypto treasury models.