Overview
- MSCI said it will not implement proposed exclusions of digital asset treasury companies in the February 2026 index review, keeping current treatment in place for firms on its preliminary list with digital assets of at least 50% of total assets.
- The index provider froze increases to share counts and inclusion factors for these companies and deferred additions or size-segment changes until its review is complete.
- MSCI will launch a broader consultation to determine how to classify non‑operating or investment‑oriented entities, with potential new eligibility criteria under consideration.
- Shares of Strategy (MSTR) rose roughly 6% to 7% in after‑hours trading following the announcement, reflecting relief over the avoided risk of forced index‑linked selling.
- Analysts had warned that exclusions could trigger multi‑billion‑dollar passive outflows, including an estimated $2.8 billion from Strategy, as industry groups pressed MSCI to reconsider the proposal.