Bitcoin Policy Institute said in a new report that MSCI’s broader 2026 framework for classifying "non-operating companies" may still exclude Strategy and Metaplanet from major equity indexes under the institute’s simulation. BPI said metadata in MSCI’s public consultation materials still included an internal path labeled "Projects/DATCOs/Operating vs Non Operating," raising questions about whether the revised rules continue the earlier logic used to screen out certain digital-asset-heavy companies. The group linked that wording to prior treatment of DAT firms, defined here as companies with digital assets accounting for at least 50% of total assets. BPI also noted that roughly $21 trillion in assets are currently benchmarked to MSCI indexes, meaning any methodology change could trigger large passive fund reallocations. The report was cited in a Techub item that referenced Wu Blockchain.
Bitcoin Policy Institute, or BPI, said in a report that MSCI’s broader 2026 classification standard for "non-operating companies" could still exclude Strategy and Metaplanet from major stock indexes based on BPI’s simulation.
BPI said it found an internal path in the metadata of MSCI’s public consultation documents reading "Projects/DATCOs/Operating vs Non Operating." In BPI’s view, that detail raises questions over whether the new framework still follows the earlier approach of excluding DAT companies, referring here to firms whose digital assets account for at least 50% of total assets.
BPI also said about $21 trillion in assets are currently benchmarked to MSCI indexes. Any change to index methodology could lead to large-scale passive capital reallocation.
The item was reported by Techub and cited Wu Blockchain.
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