Analysis: MSCI Sets "Hidden Clause" That May Cut Off Incremental Fund Inflows for Strategy

Odaily News Global stock and ETF market benchmark provider MSCI has announced that it will not remove bitcoin treasury company Strategy for the time being. However, a hidden clause, "MSCI will not implement any increases to the Number of Shares (NOS)," has drawn community attention. This clause means that any newly issued shares by Strategy through ATM offerings will not be included in the MSCI index weightings and will not trigger passive fund purchases. In essence, while MSCI acknowledges the existence of cryptocurrency reserve stocks, it refuses to continue providing passive fund support for ATM share issuances. Even if Strategy issues more shares, passive funds will not follow up with purchases, effectively cutting off incremental capital inflows. It is reported that besides Strategy, other bitcoin treasury companies potentially affected include Metaplanet and Capital B. (CryptoSlate)