Strategy Jumps After MSCI Holds Off on Excluding Digital Asset Treasury Firms
Shares of Strategy (MSTR) rose 6% in after-hours trading Tuesday after MSCI said it will not remove digital asset treasury companies (DATs) from its indexes, easing a major source of pressure on the stock.
The Michael Saylor-led firm had been weighed down by softer bitcoin prices and uncertainty over whether index changes would force its exclusion from key benchmarks.
In a statement, MSCI said further analysis is needed to distinguish between investment companies and operating businesses that hold non-operating assets—such as digital assets—as part of their core operations. The index provider added that additional inclusion criteria, including financial-statement-based or other indicators, may be required.
“For the time being, the current index treatment of DATCOs identified in the preliminary list published by MSCI will remain unchanged,” the firm said, referring to companies whose digital asset holdings account for at least 50% of total assets.
The announcement was closely watched by investors, as exclusion from MSCI indexes could have cut off billions of dollars in passive inflows for Strategy and other firms pursuing similar digital asset treasury strategies.
With that risk now removed, capital may begin to flow back into the sector, improving sentiment. Other DATs, including Bitmine Immersion (BMNR), Sharplink (SBET), and Twenty One Capital (XXI), also recorded modest after-hours gains.
Bitcoin, which had traded lower earlier in the session, rose about 1% on the news and was last trading near $93,500.
