Strive Urges MSCI to Reconsider Bitcoin Firm Exclusion

Crypto News Regulation

Strive Challenges MSCI’s Plan to Drop Bitcoin Firms from Indexes

Written by Aaron S.,

Editor-In-Chief

Last Updated: December 08, 2025

Key Takeaways

Strive asked MSCI to rethink a plan that would remove Bitcoin-focused firms from its stock indexes;
The company warned the rule could limit investor access and unfairly affect Bitcoin miners diversifying into AI services;
Strive said tying index inclusion to volatile Bitcoin assets would raise investor costs and tracking errors.

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Strive Challenges MSCI’s Plan to Drop Bitcoin Firms from Indexes

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Strive, a US-listed company that holds Bitcoin BTC $91,569.29 reserves, has asked Morgan Stanley Capital International (MSCI) to reconsider a plan to remove certain Bitcoin-focused businesses from its stock indexes.

In a letter addressed to MSCI’s chief executive, Henry Fernandez, Strive explained that cutting companies with digital assets exceeding half of their total holdings would limit investors’ access to fast-growing industries.

The firm also warned that the proposal would miss the intended targets and exclude firms diversifying into new areas.

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Strive’s chief executive, Matt Cole, noted that mining companies such as MARA Holdings, Riot Platforms, and Hut 8 could be unfairly affected. He said these firms are using their facilities to supply computing power for artificial intelligence operations, not only cryptocurrency mining.

Cole added that the policy would also block access to companies like Strategy and Metaplanet, which offer investment products tied to Bitcoin’s returns, similar to structured notes from large banks such as JP Morgan, Morgan Stanley, and Goldman Sachs.

He added that competing with established financial institutions is difficult because index rules make it more expensive for Bitcoin-focused firms to raise capital.

Cole further said that linking index inclusion to a volatile asset like Bitcoin would cause companies to move in and out of the index frequently, which would raise costs and errors for investors.

Determining when a company’s digital assets reach the 50% mark could also prove difficult, as exposure often includes derivatives or funds, not only direct holdings.

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