Robinhood Markets Inc.’s shares fell Thursday, after the financial-services platform once again missed out on membership in the S&P 500 index. But investors should perhaps focus more on President Donald Trump’s tax-and-spending megabill, which could have much bigger implications for the company.

OpenAI said on Wednesday it had not partnered with Robinhood for the stock tokens the trading platform unveiled earlier this week.

Robinhood launches tokenized U.S. stocks, giving EU users easier access to top assets like Apple, Nvidia, and OpenAI.