Overview
- Bitcoin For Corporations formally urged MSCI on December 8 to withdraw its proposal to exclude companies whose digital assets are 50% or more of total assets from the Global Investable Market Indexes.
- MSCI has argued that companies with large crypto treasuries resemble investment funds rather than operating businesses, a characterization that has drawn strong objections from market participants.
- Strive Asset Management pressed MSCI last week to reconsider the threshold, citing GAAP–IFRS accounting differences and calling the approach unjustified and unworkable; Strive reports holding over 7,500 BTC.
- Industry estimates suggest up to 39 public companies could face reclassification or removal, with Strategy, MARA Holdings, Hut 8, Metaplanet, and SharpLink Gaming among those cited as potentially affected.
- Critics warn the rule targets a single asset class and could force mechanical passive outflows and raise capital costs, while MSCI is expected to announce its decision on January 15, 2026.