MSCI Delays Reclassification of Crypto-Heavy Firms Until Feb 2026
Global index provider MSCI has postponed any changes to how it treats companies that hold large cryptocurrency treasuries until at least its February 2026 Index Review. The consultation examined so-called digital asset treasury companies (DATCOs) — firms that keep significant reserves in cryptocurrencies such as Bitcoin — and raised unresolved concerns about whether these firms behave like operating businesses or investment vehicles. MSCI cited issues around business classification, financial volatility and index construction integrity. As a result, eligible crypto-heavy companies that meet existing listing and eligibility criteria will remain in MSCI equity indexes through the February 2026 review cycle. The decision provides short-term index stability and extra time for investors and index users to assess whether DATCOs should be treated differently in future global benchmarks; MSCI said it will continue to consider long-term treatment but made no immediate rule changes. For traders: the announcement temporarily reduced near-term classification risk for firms with large crypto treasuries, briefly supporting those equities and related crypto market sentiment, while leaving open longer-term uncertainty about index inclusion rules and institutional acceptance of corporate crypto strategies.
Neutral
MSCI’s delay is likely neutral for Bitcoin price itself. The announcement removes an immediate structural risk — the prospect that crypto-heavy firms could be reclassified and excluded from major equity indexes — which briefly supported equities of firms with large crypto treasuries and may have provided modest positive sentiment to BTC. However, MSCI made no change to include/exclude criteria and only postponed a decision, leaving long-term regulatory and classification uncertainty intact. For short-term trading, expect a mild positive reaction in equities of affected firms and temporary relief in crypto risk sentiment. For Bitcoin price specifically, the effect should be limited and transitory because the decision does not alter fundamentals like supply, demand, or institutional adoption; it only delays a potential index-driven liquidity event. Over the longer term, if MSCI or other index providers ultimately reclassify DATCOs as investment vehicles, that could remove a channel of institutional exposure and be bearish for BTC. Conversely, if DATCOs remain eligible and institutional acceptance grows, it could be modestly bullish. Given the postponement and unresolved outcomes, the net impact is neutral until a definitive rule change occurs.