Strategy (MSTR) climbed 6% in after-hours trading on Tuesday after MSCI said it will not exclude digital asset treasury companies from its indexes at this stage. The announcement also lifted bitcoin, which rose about 1% to roughly $93,500.
MSCI leaves current index treatment unchanged
In its statement, MSCI said distinguishing between investment companies and other firms that hold non-operating assets such as digital assets as part of their core operations, rather than strictly for investment purposes, still requires more research and consultation with market participants. The index provider added that assessing eligibility across these entities may require extra inclusion criteria, potentially based on financial statements or other indicators.
Until that work is completed, MSCI said the current index treatment will remain unchanged for the digital asset treasury companies identified in its preliminary list whose digital asset holdings account for 50% or more of total assets. That means no immediate change to their index status.
Passive flow concerns had been a major overhang
The decision had been closely watched because a removal from MSCI indexes could have cut off significant passive capital inflows, not only for Strategy but also for other companies trying to follow a similar model. With that downside risk now off the table for the time being, sentiment improved in after-hours trading.
Other digital asset treasury names, including Bitmine Immersion (BMNR), Sharplink (SBET), and Twenty One Capital (XXI), also posted modest gains after the close. Bitcoin, which had been under pressure for much of the session, turned higher following the news.