MSCI Weighs Exclusion of Corporate Bitcoin Treasuries from Major Indices

MSCI is reviewing its rules for companies that hold large reserves of cryptocurrencies, which could fundamentally change how publicly traded Bitcoin treasury companies are viewed by global institutional funds.

The review, which will determine whether certain firms are classified as 'non-operating' entities, carries significant financial weight because inclusion in major MSCI indices drives billions of dollars in passive fund allocation from institutional pension funds, mutual funds, and ETFs.

Strategy (formerly MicroStrategy) and Metaplanet are among the companies at the center of this debate. Corporate treasury advocates argue that holding Bitcoin functions as an innovative corporate reserve asset strategy rather than turning a functioning business into a passive shell.