- MSCI has opted not to exclude companies with over 50% of assets in digital currencies from its indexes for the February 2026 review.
- Metaplanet’s shares rose 4% in Tokyo trading, boosting its market-to-net asset value ratio to
1.25. - The decision averts immediate selling pressure but flags future consultations on non-operating entities.
Japanese firm Metaplanet saw its stock climb to a three-month premium relative to its bitcoin holdings after index provider MSCI announced it would not exclude digital asset treasury companies from its global benchmarks.
Metaplanet, which holds 35,102 BTC valued at approximately $3.27 billion, closed at 531 yen ($3.4) on January 7, 2026, marking a 4% gain. This pushed its multiple to net asset value (mNAV) to around 1.25, the highest since before the October 2025 crypto market liquidation crisis.
The rally follows MSCI’s January 6 announcement to maintain the status quo for digital asset treasury companies (DATCOs)—defined as firms where digital assets like Bitcoin (BTC) comprise 50% or more of total assets. This removes a near-term overhang that could have triggered billions in passive fund outflows, but MSCI plans a broader review on distinguishing investment-oriented entities from operating companies.
In its official note, MSCI stated, “This broader review is intended to ensure consistency and continued alignment with the overall objectives of the MSCI Indexes, which seek to measure the performance of operating companies and exclude entities whose primary activities are investment-oriented in nature.” The firm cited investor feedback highlighting similarities between DATCOs and ineligible investment funds.
Simon Gerovich, CEO of Metaplanet, welcomed the news on X, posting: “Good news for Bitcoin treasury companies. MSCI has decided not to exclude companies holding large amounts of Bitcoin from the index.” The post, available at X, thanked stakeholders for their input.
Other bitcoin treasury firms also benefited. MicroStrategy (MSTR), the largest corporate BTC holder with 673,783 coins, rose 5% in pre-market trading on January 7. Analysts note the decision defers risks rather than eliminates them, as future criteria could include financial-statement indicators to assess operational focus.
Over 190 public companies now hold Bitcoin on their balance sheets, with treasuries expanding into altcoins like Ethereum (ETH). However, late 2025 price declines raised sustainability questions. For context on Bitcoin’s recent performance, see this related article from Cryptopress.site: Bitcoin Pushes Above $90,000 as Traders Eye Change in Pattern.
The trend underscores growing institutional adoption, but experts caution that regulatory shifts could impact liquidity and KYC compliance for treasury strategies.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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