MSCI is consulting on excluding digital-asset-treasury companies (DATs) whose balance sheets are more than 50% crypto. The final decision will be announced Jan. 15 with changes taking effect in February. MSCI’s preliminary list contains about 38 companies including MicroStrategy, Riot Platforms and Marathon. BTC Markets exec Charlie Sherry said the odds favor exclusion, which would force index-tracking funds to sell and put meaningful pressure on affected stocks. JPMorgan analysts estimate MicroStrategy could lose roughly $2.8 billion if MSCI proceeds. It is unclear whether other index providers will follow, though clearer corporate classification rules could boost long-term institutional confidence.

MSCI’s proposed exclusion would force index-tracking funds to sell shares of roughly 38 companies (including MicroStrategy, Riot, Marathon), a move described as placing meaningful pressure on affected stocks; JPMorgan estimates MicroStrategy could lose about $2.8 billion if MSCI proceeds. These are concrete, near-term selling pressures tied to an index decision scheduled for announcement Jan. 15 and implementation in February.