+34
Strive, one of the largest Bitcoin treasury companies, has criticized MSCI's proposed framework for excluding crypto treasury firms from its global index. The company supports MSCI's effort to distinguish operating companies from passive investment vehicles but says the proposal does not provide a workable definition of an operating asset. Strive argues that companies using Bitcoin reserves to issue differentiated digital credit products, including products backed by Strategy, perform active financial and risk-management functions comparable to banks, insurers, and other financial institutions.
Strive, the fifth-largest Bitcoin treasury, has put forth a strong and critical case against MSCI’s proposal to axe crypto treasuries from the global index. In its feedback on the proposal, Strive acknowledged the 2026 framework as a “material improvement” over the 2025 one .
The current proposal asks a better question: when does a public corporation cease to be an operating company and become, in economic substance, an investment vehicle? We think MSCI is now asking the right question but has yet to supply a rule capable of answering it.
However, Strive asked MSCI to define the meaning of “operating asset. ” The firm insisted that they fit the profile of an “operating company,” citing Strategy’s digital credit products tied to BTC reserves. Companies that issue digital credit belong on the operating side of that line. They use balance sheet assets as inputs, apply continuing financial and risk-management processes to them, and produce differentiated financial claims with payment and risk characteristics the underlying assets.
Strategy’s list of preferred stocks, including STRC, STRF, STRK, and STRD, earn bi-monthly and quarterly dividends. In fact, there is a proposal to have the last four offer daily interest. The digital credit is backed by Strategy’s massive BTC and cash reserves to ensure uninterrupted yield payouts.to replenish its cash reserves. Similarly, Strive said it runs the same playbook with over $2B worth of BTC as reserve.
For Strive, this fits an “operating company” just like any insurer, bank, or other financial firms. The primary product is not Bitcoin itself, but rather differentiated forms ofliquidity. That strikes us as a corporate activity, not a passive one.are “non-operating” companies that should be axed from its index.
The index provider proposed this last month and opened a feedback window set to close by the end of September.to give final results on the same by mid-October and rebalance the index by November, if the changes are adopted. However, Strive insists that it should define “operating assets” and at least offer a “future qualification path” for the firms to make needed adjustments. It’s unclear whether MSCI will fold and withdraw the proposal next month.
However, the decision would massively affect the crypto treasuries segment. Strive wants MSCI to define “operating assets,” defending that Strategy and the digital credit model constitute an “operating” company. MSCI will finalize its decision on axing crypto treasuries in mid-October after reviewing feedback from players.
Strive MSCI Bitcoin Treasuries Global Index Digital Credit
Canada Latest News, Canada Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
‘Only hedge funds, retail sold’ — Will BTC sustain rally as Bitcoin ETF flows turn positive?Will BTC hold above $80K ahead of another likely October Fed rate hike?
Read more »
Poland Urges EU Adoption of Asylum Suspension Amid Migration Crisis, Faces Human Rights BacklashPoland's policy of temporarily suspending asylum applications during mass migration episodes is under scrutiny as the EU considers a new emergency framework that could legitimize such measures continent‑wide. Rights groups warn of violations to international law.
Read more »
P.E.I. woman who lost nearly $10K in bitcoin scam wants bank to reimburse her moneyBinh Tran has spent the last six months trying to get her money back after falling victim to a scam call.
Read more »
Saudi Grand Mufti Urges Troops to Defend Kingdom as Yemen Fighting EscalatesSaudi Arabia's top cleric called on troops to defend the kingdom from Iran-backed Houthis, as more than 130,000 people flee Yemen and Gaza marks its first Israeli soldier deaths in months.
Read more »