Bitcoin think tank questions MSCI’s ‘invisible committee’ over Strategy, Metaplanet rule
A Bitcoin Policy Institute paper says MSCI’s proposed “non-operating company” rule could remove Strategy and Metaplanet from its indexes and may have roots in an earlier crypto treasury review.
A Bitcoin Policy Institute paper raises concerns over MSCI's recently proposed rule that could exclude firms like Strategy and Metaplanet from its market indexes. The think tank, in its research titled "Wall Street's Invisible Committee," questioned MSCI's approach to developing the rule, which was initially shelved in January but returned in August.
The BPI pointed to metadata suggesting the source material used by MSCI was from an internal folder related to digital asset treasury companies. The proposed rule would first assess if a company has significant operating assets before applying additional financial tests. If applied, Strategy, Metaplanet, and Yellow Cake could be removed from MSCI indexes, potentially causing significant investor outflows.
MSCI maintains the new test aims to identify assets primarily used for asset accumulation rather than revenue generation. The think tank also criticized MSCI's use of "operating assets," arguing the term lacks standardization and gives MSCI significant discretion in asset classification.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
