Global index provider MSCI decided against excluding cryptocurrency treasury firms from its Global Investable Market Indexes on Monday, significantly boosting shares of companies such as Strategy Inc. (NASDAQ:MSTR) in the after-hours session.
MSCI’s Relief For Crypto-Hoarding Companies
The MSCI announced that the current index treatment of digital asset treasury companies identified in the preliminary list, whose digital asset holdings account for 50% or more of their total assets, will remain unchanged “for the time being.”
The decision was made following a consultation process that raised institutional investors’ concerns that these companies “exhibit characteristics similar to investment funds.”
The consultation feedback also highlighted that such companies might be part of a larger group of entities whose main activities are investment-oriented rather than operational.
MSCI said that the difference between investment companies and other firms holding non-operating assets, such as digital assets, for …