MSCI Reopens Consultation on Excluding Crypto-Related Firms from Global Indexes

Financial benchmark provider MSCI has reopened its consultation on excluding 'non-operating' companies from its global equity indexes, a move that could again put crypto-related treasury firms like Strategy and Metaplanet under scrutiny.

The change matters because MSCI benchmarks are widely used by asset managers, and index removals can translate into forced selling for funds that track those measures.

Earlier this year, MSCI had shelved a plan to exclude digital asset treasury companies from its indexes after resistance. The proposal was revived on August 3 with a broader framework for identifying companies whose value derives mainly from accumulating assets rather than revenue-generating operations.