Catenaa, Thursday, January 08, 2026- Shares of Strategy rose about 5% in extended trading Tuesday after MSCI said it will not remove digital asset treasuries from its indexes for now, easing months of uncertainty for crypto-linked stocks.
MSCI, a major index provider whose benchmarks guide institutional capital flows, said companies classified as digital asset treasury companies will keep their current treatment in its Global Investable Market Indexes. The decision comes ahead of a scheduled February rebalancing.
Strategy, the largest corporate bitcoin holder included in MSCI indexes, reversed earlier losses after the announcement. The stock had fallen about 4% during the regular session before turning higher after hours.
The review began in October, when MSCI said it was examining whether firms holding digital assets equal to at least half of total assets should remain eligible for inclusion. The proposal raised concerns that such companies function more like passive investment vehicles than operating businesses.
MSCI said its initial review confirmed investor concern that some digital asset treasury companies resemble investment funds, which are not eligible for inclusion under current rules.
However, the firm said more consultation is needed before changing standards.
Under the proposal, dozens of firms could have faced removal or future exclusion. Analysts at JPMorgan had warned that Strategy alone could see billions of dollars in outflows if major benchmarks dropped the stock.
MSCI said companies already included in its indexes will remain as long as they continue to meet other requirements. The firm plans a broader review of non-operating companies and may develop new assessment criteria using financial statements or other indicators.
The move offers temporary relief to crypto-focused equities, though MSCI signaled that further changes remain possible as it studies how to classify companies whose balance sheets are dominated by digital assets.
