MSCI Rule Threatens Billions in Capital Outflows for Crypto Treasury Firms

MSCI has proposed a new eligibility filter that could exclude companies with significant digital asset treasuries from major indices like ACWI IMI. The rule, which is currently under consultation until September 30, targets firms like Strategy and Metaplanet that hold large amounts of Bitcoin in their treasuries.

According to Michael Saylor and Strategy's CEO Phong Le, this rule unfairly targets companies with Bitcoin treasury strategies. They estimate that up to $2.8 billion could be lost from Strategy alone if they are excluded, while others could potentially lose around $11.6 billion.

The MSCI consultation ends on September 30, with decisions expected in October and possible revisions in November. This is a critical moment for crypto treasury companies' index inclusion and investor capital flows.