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Index fund manager Morgan Stanley Capital International (MSCI) has confirmed that digital asset treasury companies remain eligible for index inclusion. Companies holding more than 50% of their assets as digital assets faced an uncertain future ahead of MSCI's February 2026 Index Review.
What's the Scoop?
- No Change: MSCI has decided not to exclude digital asset treasury companies from its "Global Investable Market Indexes" as part of the index manager's "February 2026 Index Review" process.
- JPM FUD: Potential DAT delisting consequences came to the forefront of the crypto industry's consciousness in November, when analysts for JPMorgan warned that Strategy (MSTR) was a prime candidate for index delisting, flagging an October 10 announcement from MSCI that sought feedback on whether DATs should remain in its index products.
- Continued Uncertainty: While MSCI's treatment of digital asset treasuries will go unchanged for the time being, the DAT debate has incited a broader discussion at MSCI about the role of non-operating/investment-oriented companies in its indexes. MSCI has pledged to seek further feedback on how such companies should be treated.
DATs are a new take on a longstanding business model - that of financial services companies
— Cosmo Jiang (@cosmo_jiang) January 6, 2026
Great to see that the education and advocacy work the industry did has helped MSCI get to the right conclusion
DATs remain eligible for index inclusionhttps://t.co/9kRiqeE3QR https://t.co/KQl3hjSOvA
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