$15B in Forced Selling Off The Table as MSCI Keeps Crypto Treasury Firms in Indexes

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MSCI will not exclude digital asset treasury companies from its Global Investable Market Indexes in the February 2026 review. They plan to hold broader consultations on the treatment of non-operating companies and have previously sought feedback on companies holding significant crypto assets.
In a note published on Tuesday, MSCI stated that it has “determined at this time not to implement the proposal to exclude digital asset treasury companies from the MSCI Global Investable Market Indexes as part of the February 2026 Index Review.”
However, it added that it intends to open a “broader consultation on the treatment of non-operating companies generally.” In October, the MSCI announced that it was consulting with the investment community about whether to exclude DATs that have the majority of their balance sheet in crypto.
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