Strategy (MSTR), the leading corporate Bitcoin holder, has failed to make it to the flagship S&P 500 index in a big setback for the company.

MSTR shares are down more than 2% in after-hours trading following the snub. Meanwhile, Bitcoin is currently changing hands at $110,832.     

That said, cryptocurrency-friendly brokerage platform Robinhood has made the cut. It will join the index together with mobile technology company AppLoving and construction and facilities company Emcon Group. 

Meanwhile, casino company Caesars Entertainment, financial technology company MarketAxess Holdings, and clean energy company Enphase Energy are on their way out.