Strategy Stock Rises After MSCI Says It Won't Bar Crypto Treasury Firms — WSJ
By Vicky Ge HuangShares of bitcoin accumulation company Strategy rose after index provider MSCI said it won't exclude crypto treasury companies from its indexes.Strategy gained about 5% in after-hours trading on Tuesday. The stock closed down about 4%.MSCI said in a Tuesday statement that it plans to seek broader feedback on how to handle companies that don't have active business operations.Last year, the index provider proposed cutting "digital-asset treasury companies" such as Strategy from its indexes if crypto tokens make up a majority of their assets. It cited concerns that such companies might "exhibit characteristics similar to investment funds," which aren't eligible for the indexes.Strategy faced heavy scrutiny after JPMorgan analysts pointed out that it could face billions of dollars in outflows if it is cut from MSCI indexes.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).