Digital asset treasury companies currently included in MSCI Indexes will continue to remain, provided they meet all other index inclusion requirements, it said.
- MSCI, earlier had proposed to exclude crypto treasury firms from its global indexes.
- MSCI said current index treatment of DATCOs identified in the preliminary list will remain unchanged.
- Shares of DAT firms rallied after the announcement.
MSCI said on Tuesday that it has decided not to implement the proposal to exclude digital asset treasury companies (DATCOs) from the MSCI Global Investable Market Indexes (MSCI Indexes) as part of the February 2026 Index Review.
DATCOs currently included in MSCI Indexes will continue to remain, provided they meet all other index inclusion requirements, it said.
However, MSCI intends to open a broader consultation on the treatment of non-operating companies in general. MSCI had earlier proposed to exclude crypto treasury firms from its global indexes. The consultation results were scheduled to be announced by January 15, 2026.
Shares of one of the biggest DAT companies, Michael Saylor-backed Strategy, rallied more than 5% after the announcement. Meanwhile, Bitmine Immersion shares jumped 2.3% and Strive Asset Management shares were up 1.9% during after market hours of trading.
MSCI said that the current index treatment of DATCOs identified in the preliminary list published by MSCI of companies whose digital asset holdings represent 50% or more of their total assets will remain unchanged.
MSCI did flag that feedback from the consultation confirmed institutional investor concern that some DATCOs exhibit characteristics similar to investment funds, which are not eligible for inclusion in the MSCI Indexes.
DATs Rise
Firms globally are adopting DATs to put digital currencies on their balance sheets, as interest in the sector continues to surge.
Easing regulations around cryptocurrencies and broader acceptance of tokens for transactions has also helped several companies turn their operations into DATs or launch their subsidiaries as DATs.
One of the biggest DAT companies is Michael Saylor-backed Strategy (MSTR), which began buying bitcoin in 2020 and has been continuing to do so ever since. Notably, the number of DAT companies has expanded over the years.
How Did Stocktwits Users React?
Retail sentiment around MSTR trended in ‘extremely bullish’ territory amid ‘high’ message volume.
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