Strive Challenges MSCI Proposal on Bitcoin Treasuries
Strive, listed as the fifth-largest Bitcoin treasury, has officially challenged a proposal by MSCI to remove cryptocurrency treasuries from its global index, according to AMBCrypto. While Strive described the 2026 framework as an improvement over previous drafts targeting crypto holdings, the firm argues that MSCI has failed to supply a clear rule to determine when a public corporation ceases to operate as a traditional business and becomes an investment vehicle.
In its feedback submission, Strive urged MSCI to explicitly define the term operating asset and to establish a future qualification path for companies to make necessary adjustments. The index provider argues that firms purchasing and hoarding digital assets function as non-operating entities. Conversely, Strive maintains that companies issuing digital credit and financial products backed by Bitcoin reserves operate similarly to insurers, banks, and other financial institutions. The firm cited financial products that utilize balance sheet assets for risk-management processes and yield payouts as evidence of active corporate operations.
TD Securities made a similar argument in response to the proposal, noting that the primary products offered are differentiated forms of Bitcoin-backed exposure tailored to investor preferences rather than passive holding. MSCI opened a feedback window that closed at the end of September and plans to announce final results in mid-October, with a potential index rebalancing scheduled for November if the changes are adopted.
Based on reporting by ambcrypto.com.
