Overview
- MSCI is consulting on a rule that would remove companies whose digital assets are 50% or more of total assets from its Global Investable Market Indexes.
- Strategy submitted a 12-page letter urging MSCI to withdraw the plan, arguing digital asset treasury companies are operating businesses rather than investment funds.
- The company called the threshold discriminatory and unworkable, warning that bitcoin price swings and differing GAAP/IFRS accounting could cause constituents to whipsaw on and off indexes.
- JPMorgan estimates Strategy could face roughly $2.8 billion in forced selling by index-tracking funds if excluded, with broader passive flows also at risk.
- Industry groups including Strive and Bitcoin For Corporations have lodged objections, as Strategy frames the proposal as conflicting with U.S. pro-crypto policy and potentially harming innovation ahead of an expected Jan. 15, 2026 decision.