Crypto Treasuries Face Billions In Outflows With MSCI Exclusion
If MSCI excludes crypto treasury companies from its indexes, those firms could be forced to sell up to $15 billion in crypto, with BitcoinForCorporations projecting outflows between $10 and $15 billion based on 39 impacted companies with $113 billion in market cap. JPMorgan estimates Michael Saylor’s Strategy could see $2.8 billion in outflows, as it accounts for 74.5% of the affected market cap. Total potential outflows may reach $11.6 billion, likely increasing selling pressure on an already declining crypto market. MSCI’s proposal, under consideration since October, would exclude companies holding a majority of their balance sheet in crypto, affecting their inclusion in major benchmark indexes and thereby access to capital from passive investment funds. Critics, including BitcoinForCorporations and prominent industry players, argue that balance sheet-based exclusion is unfair and say company classification should rely on business models and financial performance. Objections from firms like Strive and Strategy contend that the proposal could bias indexes against crypto assets. MSCI’s final decision is expected by January 15, 2026, with changes to take effect in the February Index Review.
