
Strategy, the largest Bitcoin treasury company, has requested MSCI to withdraw its proposal to exclude digital asset treasury firms from major stock indices. The company argues the plan repeats a previously dropped 2025 proposal and conflicts with U.S. accounting rules that classify Bitcoin holdings as an operating segment, not passive assets. JPMorgan analysts warn that such exclusion could trigger billions in fund outflows and reduce trading liquidity. Public feedback on the proposal is open until the end of September, with a possible implementation date of December 1.