MSCI delisting of crypto stocks could trigger $15B sell-off

If the MSCI (formerly Morgan Stanley Capital International) decides to proceed with its delisting connection and excludes crypto treasury companies from the indices, past these companies could beryllium forced into selling billions of dollars worthy of crypto assets.

The occupation started on Oct. 10 when MSCI extended its consultation connected excluding nationalist companies with much than 50% of the assets connected their equilibrium sheets dedicated to integer assets from accepted banal indexes like the MSCI USA Index.

It is simply a benchmark that tracks the show of large-cap and mid-cap U.S. companies, representing astir 85% of the U.S. banal market.

Crypto treasury companies similar Michael Saylor-led Bitcoin (BTC) treasury firm, Strategy (Nasdaq: MSTR), could get excluded from the scale if the MSCI proceeds with the connection contempt Saylor's protest.

• MicroStrategy retains spot successful cardinal scale contempt delisting threats

• Saylor hints astatine imaginable Morgan Stanley concern amid delisting fiasco

• Analyst downgrades MicroStrategy amid higher dilution

If it happens, crypto treasury companies could unit sell digital assets worth billions of dollars, arsenic per BitcoinForCorporations.

A radical calling connected MSCI to retreat its proposal, BitcoinForCorporations projected that these companies could beryllium forced into selling $10 billion-$15 cardinal when MSCI implements the connection in February 2026 scale review.

The radical identified 39 companies, including 18 scale constituents and 21 non-constituents, specified as:

• Strategy (Nasdaq: MSTR)

• Sharplink Gaming (Nasdaq: SBET)

• Riot Platforms (Nasdaq: RIOT)

• Marathon Holdings (Nasdaq: MARA)

The combined float-adjusted market headdress of these 39 companies is $113 billion. Strategy itself represents 74.5% of the full float-adjusted marketplace cap.

BitcoinForCorporations said the MSCI has a "discriminatory" attack towards crypto treasuries arsenic it doesn't use immoderate specified exclusion regularisation to companies holding gold, bond, etc. These companies are operating companies, not concern funds, it added.

It alternatively recommended that the MSCI necessitate "enhanced disclosure" from companies without exclusion.

Related: MicroStrategy sends crisp informing missive to MSCI

This communicative was primitively published by TheStreet connected Dec 18, 2025, wherever it archetypal appeared successful the MARKETS section. Add TheStreet arsenic a Preferred Source by clicking here.