4E: JPMorgan Chase says rejection of Strategy into S & P is a blow to crypto coffers

September 11 news, according to 4E observation, JPMorgan analysts pointed out that last week the S & P 500 index committee refused to include Strategy (formerly MicroStrategy) in the constituent stocks, even though its technical indicators have reached the standard, which is seen as a blow to the "bitcoin treasury model". The report said that the committee has discretion in the selection of constituent stocks, indicating a cautious attitude towards companies that restructure their balance sheets with large bitcoin holdings.
In Hong Kong, the HKMA released the exposure draft of the Classification of Crypto Assets, which intends to divide crypto assets into two categories and four groups, of which Group 1a is tokenized traditional assets, Group 1b is stablecoins with sufficient stability mechanism, and Group 2 covers Bitcoin, Ethereum and other non-reserve-backed assets. This move aims to implement the new Basel Committee 2026 regulations and provide a clear framework for bank capital base accounting.
US regulation is also shifting. SEC Chairperson Paul Atkins announced the launch of Project Crypto at the OECD Roundtable, which will provide predictable rules for on-chain financing, emphasize that "most tokens are not securities", and allow trading, lending, and pledging under a unified framework.
In addition, European crypto asset manager CoinShares will join forces with SPAC Vine Hill Capital and Odysseus Holdings to list on Nasdaq, becoming the first European Web3 company to list in the United States.
4E reminds investors that the global regulatory environment is trending towards refinement and stratification, and the market position of institutions and treasury companies is facing reassessment. Investors should pay attention to the dynamic evolution of policies and compliance.