"MSCI is considering a new rule that would remove companies from its Global Investable Market Indexes if 50% or more of their assets are held in digital assets such as Bitcoin. The proposal appears simple, but the implications are far-reaching. It would affect companies like Michael Saylor's Strategy (formerly MicroStrategy), Eric and Donald Trump Jr's American Bitcoin Corp (ABTC), and dozens of others across global markets whose business models are fully legitimate, fully regulated, and fully aligned with long-standing corporate treasury practices."
"The purpose of this document is to explain what MSCI is proposing, why the concerns raised around Bitcoin treasury companies are overstated, and why excluding these firms would undermine benchmark neutrality, reduce representativeness, and introduce more instability-not less-into the indexing system. MSCI launched a consultation to determine whether companies whose primary activity involves Bitcoin or other digital-asset treasury management should be excluded from its flagship equity indices if their digital-asset holdings exceed 50% of total assets. The proposed implementation date is February 2026."
MSCI has launched a consultation proposing exclusion of companies from flagship equity indices if 50% or more of their assets are held in Bitcoin or other digital assets, with a proposed implementation in February 2026. The rule would capture operating firms such as Strategy (formerly MicroStrategy), American Bitcoin Corp, miners, infrastructure firms, and diversified companies that use Bitcoin as a treasury reserve or inflation hedge. These firms are publicly traded, audited, and regulated operating businesses rather than ETFs. Excluding them risks reducing index representativeness, undermining benchmark neutrality, and creating additional market instability, while concerns about Bitcoin treasury firms are argued to be overstated.
Read at Bitcoin Magazine
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