A new report has warned that MSCI could be forced into billions of dollars in cryptocurrency-related sales if it decides to exclude digital asset treasury companies. This could put further pressure on a market already facing an economic downturn.
Should investors prepare for a sale during the MSCI review?
According to the latest report published by BitcoinForCorporations, the cumulative value of potentially affected companies could range from $10 billion to $15 billion. These numbers are calculated using the float-adjusted market capitalization of the companies being evaluated, which totals more than $110 billion.
Learn more about the potential impact of MSCI’s proposed 50% DAT exclusion rule: https://t.co/ceJZU0dRTP pic.twitter.com/5CixFrEYVR
— George Mekhail (@gmekhail) December 17, 2025
The strategy itself represents about three-quarters of the market capitalization affected. JPMorgan analysts estimate that up to $2.8 billion could be lost if the company is disqualified. That is the biggest potential source of selling pressure.
For all companies combined, investor outflows are expected to reach a total of $11.6 billion. This situation is likely to continue to put pressure on crypto prices in the market for almost three consecutive months.
MSCI is currently evaluating whether investment entities whose balance sheets are primarily comprised of digital assets should be allowed to be part of the Global Investable Index. The deadline has been extended to October, with a decision to be made on January 15, 2026.
To that end, the preliminary list reveals 39 stocks under consideration, whether or not they are current constituents. The most notable stocks include Strategy as well as other crypto-exposed stocks such as Riot Platforms, Marathon Digital Holdings, and Sharplink Gaming.
In response to this proposed change, Strategy began negotiations with MSCI in hopes of influencing this decision. The company’s chairman, Michael Saylor, confirmed that this is currently underway ahead of the January deadline.
Industry resistance to this proposal continues to grow
Recently, there has been increasing criticism of the index method. Analysts believed that it was too simplistic to base index membership solely on balance sheet benchmarks.
“This rule would exclude companies even if their customers, revenues, or business operations remain the same,” the report said.
The group called on MSCI to withdraw the proposal. They also shared the view that classification should only be based on business fundamentals.
Crypto asset management company Bitwise has also expressed support for crypto assets. They believe that it is inappropriate to add personal opinions to the usual rules for selecting index components. He also said this could create transparency issues.
Strategy CEO von Reh also expressed doubts about how companies that stockpile oil and other goods in the Treasury have avoided being subject to the same standards. Meanwhile, Strategy maintains its position on the Nasdaq 100 after the latest index rebalance.
