MSCI's attitude softens, temporarily not lifting the ban on DAT trading, and Strategy company's stock price rises by 5% in response.

Global index provider MSCI announced on January 6th that it will not proceed with the proposal to remove digital asset treasury companies from its global investable market indices.

This decision directly benefited digital asset treasury companies led by Strategy, whose stock price rose approximately 6% in after-hours trading.

This decision temporarily lifts the “Damocles sword” hanging over DAT companies. Previously, the market had been concerned that if MSCI proceeded with the removal, it could trigger forced sell-offs of passive funds exceeding $10 billion to $15 billion.

01 Index Game

MSCI’s decision has caused significant ripple effects across the entire crypto industry and traditional finance sectors. As one of the world’s leading index providers, MSCI’s moves influence the flow of trillions of dollars.

Originally, MSCI planned to reclassify companies with digital assets accounting for over 50% of their total assets in its February 2026 index review and exclude them from major indices.

The potential impact of this proposal is profound. It is estimated that 39 companies with a combined market cap of up to $113 billion will be affected. Among them, Strategy accounts for 74.5% of the total market cap.

J.P. Morgan previously estimated that outflows of passive funds alone could reach $2.8 billion, significantly impacting Strategy’s stock price and financing capacity.

02 Market Reaction

Following MSCI’s announcement, the market responded positively. Strategy’s stock price increased about 6% in after-hours trading.

The company itself welcomed the decision, stating on social platform X: “MSCI confirms that digital asset treasury companies will remain in MSCI indices, which is a positive outcome for neutral index construction and economic reality.”

Other crypto-related stocks also received a boost. For example, Bitmine Immersion’s stock rose 3.5% in after-hours trading.

03 Future Risks

While MSCI has temporarily abandoned the removal plan, it has not completely closed the door. MSCI explicitly stated that it will initiate a “broader consultation” to explore how to handle companies that are generally non-operational.

MSCI’s statement noted that distinguishing between investment companies and other companies holding non-operational assets (such as digital assets) “requires further research and consultation with market participants.”

For investors, this means uncertainty has not been fully eliminated. Analysts warn that the risk of exclusion is not entirely resolved. For example, Lance Vitanza, an analyst at TD Cowen, expressed surprise at the decision and noted that whether this is a “decisive victory or a temporary reprieve” remains uncertain.

04 Industry Perspective

From a broader industry perspective, MSCI’s cautious stance reflects the complex sentiment within traditional finance regarding the growing influence of digital asset companies.

The rise of DAT companies represents a significant shift in corporate fund management. From just 4 in 2020 to 142 by October 2025, with more than half founded in 2025 alone.

These companies are even beginning to invest in tokens like DOGE, ZEC, or WLFI, which are far more volatile than Bitcoin.

As cryptocurrencies further integrate with traditional finance, this tension may become a persistent structural feature in the coming years. High standards and requirements could ultimately legitimize digital asset treasuries while excluding risky or poorly structured companies before they pose systemic risks.

05 New Investment Landscape

For investors seeking to invest in the digital asset space, the current situation presents both opportunities and challenges. The temporary retention of DAT companies’ index status means they will continue to attract passive fund inflows.

Strategy, as an industry leader, holds over 670,000 Bitcoins with a market value exceeding $60 billion. However, investors should also be aware of the risks associated with its high leverage strategy: in a bull market, its stock price often outperforms Bitcoin; but in a bear market, the decline can be even sharper.

Beyond direct investment in DAT company stocks, investors can also trade Bitcoin and other digital assets directly through platforms like Gate. As of January 7th, Bitcoin’s price on the Gate platform was approximately $92,800.

06 Industry Frontiers

The cryptocurrency industry is approaching a critical inflection point in 2026. After more than a decade of infrastructure development, Web3 is now deeply intersecting with the fastest-growing sectors of the global economy.

A 2026 outlook published by Gate Ventures highlights five emerging frontier areas: on-chain market “real-time information aggregation layer,” decentralized payment and foreign exchange settlement networks, “machine-native” financial systems, institutional-grade DeFi “meta-yield” platforms, and the transition of crypto mining into distributed AI computing power and energy providers.

These trends collectively indicate a structural transformation in global value flow, computing power scheduling, and intelligent system collaboration. An increasing number of crypto and ecosystem companies are accelerating toward public capital markets, expanding pre-IPO investment channels.

For investors wanting to capitalize on these trends, Gate offers comprehensive services, from spot trading to early-stage project investments, catering to different risk preferences and investment goals.

Future Outlook

Crypto mining companies are transforming into distributed computing power providers for the AI era, with their stock prices reaching new highs after expanding high-performance computing services. The electricity consumption of global data centers is expected to double from 415 TWh in 2024 to 945 TWh by 2030.

Meanwhile, more ecosystem companies are entering substantial revenue scales, maturing in regulatory compliance, and entering public markets through IPOs, De-SPACs, and mergers and acquisitions.

Strategy’s stock price trend is highly correlated with Bitcoin’s price but exhibits an amplifying effect due to leverage. The market is closely watching MSCI’s next move, as the game over the index status of DAT companies is far from over.