MetaPlanet

BPI

2026-10-03 02:18:10

BPI challenges MSCI over proposed "non-operating company" rule affecting Strategy and Metaplanet

The Bitcoin Policy Institute, or BPI, has accused MSCI of using a broad "non-operating company" framework to disguise what it says is an earlier effort to exclude digital asset treasury companies from major indexes. In a report titled Wall Street’s Invisible Committee, BPI said metadata from MSCI’s consultation materials pointed to an internal folder labeled "digital asset treasury companies," which it argues links the current proposal to a 2025 crypto-specific exclusion plan. MSCI’s screening method would first assess whether a company has substantial operating assets and then apply five financial tests. Under MSCI’s own simulation, Strategy, Metaplanet, and uranium investment firm Yellow Cake would be removed from the MSCI Global Investable Market Indexes. BPI also argued that "operating assets" is not a standard balance-sheet category under GAAP or IFRS, giving MSCI broad discretion over classifications. The consultation period closed on Sept. 30, and MSCI is expected to announce the outcome by Oct. 16. Any revised rule is set to take effect in the November 2026 index review.

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MSCI

2026-10-02 18:33:30

MSCI may remove Strategy from key indexes, forcing funds to sell about $2.8 billion in shares

MSCI is considering new screening standards that could lead to the removal of Strategy, Metaplanet, and uranium holding company Yellow Cake from major indexes, according to a post by Bitcoin News on X. Conner Brown of the Bitcoin Policy Institute said the screening appears to hinge on what counts as an "operating asset," while arguing that neither U.S. GAAP nor IFRS clearly defines the term. JPMorgan estimated that funds tied to MSCI alone could be forced to sell roughly $2.8 billion worth of Strategy stock if the company is excluded. MSCI is expected to make a decision by Oct. 16. The potential change points to index methodology as a direct driver of fund flows, with Strategy facing the largest estimated impact among the companies mentioned.

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Bitcoin Polic

2026-10-01 00:52:05

BPI says MSCI’s new classification framework may still leave Strategy and Metaplanet out of major indexes

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.

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MSCI

2026-09-30 23:31:53

Proposed MSCI rule could remove Strategy from indexes and trigger $2.8 billion in selling

A paper from the non-profit think tank Bitcoin Policy Institute says a proposed MSCI screening rule on "operating assets" could push several companies out of major indexes, including Bitcoin treasury firm Strategy, Japan-listed Metaplanet, and uranium holder Yellow Cake. The note points to index eligibility rather than company-specific events as the source of the risk. JPMorgan had previously estimated that if Strategy were removed from MSCI indexes, funds tracking those benchmarks could generate roughly $2.8 billion in selling. If other index providers were to take similar action, the paper says the total selling pressure could reach $8.8 billion. MSCI is expected to make a decision on or before Oct. 16. Any resulting changes could take effect during the November index review, around Dec. 1. The item was cited by Bitcoin.com News and carried by Odaily.

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Metaplanet

2026-09-30 07:56:49

Metaplanet independent director responds to criticism over 10th executive stock warrants

Metaplanet’s independent director has responded to questions surrounding the company’s 10th series of executive stock warrants, saying the instruments were not granted for free. According to the response, the team purchased the warrants at fair value at a time when the company’s financial condition was uncertain, meaning the investment carried real downside and could result in losses. The director argued that focusing only on the exercise price leaves out several material factors tied to the arrangement. Those include the amount already paid for the warrants, the risks assumed by the buyers, a multi-year vesting schedule, and later lock-up and exercise restrictions. The remarks were cited by Bitcoin Treasuries and relayed in a newsflash published by Odaily.

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Bitcoin

2026-09-28 14:16:02

Public Companies’ Weekly Net Bitcoin Buying Rose 30.4%, With Strategy Adding 1,665 BTC

Data from SoSoValue shows that, as of 8:00 a.m. Eastern Time on Sept. 28, 2026, global publicly listed companies excluding mining firms recorded $239 million in net Bitcoin purchases for the previous week, up 30.4% from a week earlier. Strategy, formerly known as MicroStrategy, accounted for the largest disclosed addition, buying 1,665 BTC at an average price of $85,681 for about $143 million and bringing its total holdings to 847,666 BTC. Japanese listed company Metaplanet made no Bitcoin purchases last week, extending its no-buy streak to 11 consecutive weeks. Separately, three other companies disclosed Bitcoin purchases or updated holdings. France-based Bitcoin company Capital B said on Sept. 28 that it bought 13 BTC at $85,693.40 each, lifting its holdings to 3,538 BTC. Asset manager Strive said on the same day that it spent about $94.53 million last week to acquire 1,107 BTC at $85,396 each, taking its total holdings to about 27,462 BTC. At press time, the tracked group of global listed companies excluding miners held a combined 1,159,755 BTC, up 0.32% from the prior week, with a market value of about $96.74 billion, equal to 5.7% of Bitcoin’s circulating market capitalization.

260

Bitcoin

2026-09-28 14:20:08

SoSoValue: Public Companies Bought a Net $239 Million in Bitcoin Last Week

Data from SoSoValue shows that, as of 8:00 a.m. Eastern Time on Sept. 28, 2026, publicly listed companies worldwide excluding mining firms posted net Bitcoin purchases of $239 million for the week, up 30.4% from the prior week. Strategy, formerly MicroStrategy, accounted for the largest disclosed buy, purchasing 1,665 BTC at an average price of $85,681 for about $143 million and bringing its total holdings to 847,666 BTC. Japanese listed company Metaplanet did not buy Bitcoin last week, extending its no-purchase streak to 11 consecutive weeks. Capital B said on Sept. 28 that it bought 13 BTC at $85,693.40, while asset manager Strive said it spent about $94.53 million last week to acquire 1,107 BTC at $85,396. Across the companies tracked by the dataset, total Bitcoin holdings reached 1,159,755 BTC, up 0.32% week over week, with a market value of about $96.74 billion, equal to 5.7% of Bitcoin’s circulating market capitalization.

280

VanEck

2026-09-19 10:24:14

VanEck report says Metaplanet failed all four executive pay tests

Asset manager VanEck has published a research report reviewing executive compensation practices at 10 digital asset treasury companies, and Tokyo-listed Metaplanet was the only firm to receive a "poor" rating. According to the report, the company failed all four tests used in the review, and that assessment remained unchanged even after Metaplanet cut its executive option pool twice over the past month. VanEck said Metaplanet’s executive option pool equals 14.7% of fully diluted shares, versus a peer average of 4.0%. Executives themselves hold options equal to 8.2% of shares, compared with a peer average of 0.8%. Based on those figures, Metaplanet’s option pool is roughly four times the peer average, while executive-held options are about 10 times the group norm. The report also said the expansion of the option pool and two revisions made in 2026 were not submitted to shareholders for a vote. It added that the awards require only continued employment and do not include performance hurdles. VanEck noted that Metaplanet currently holds about 43,000 BTC.

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