Analysis: MSCI's "hidden clauses" may cut off incremental capital inflows into Strategy.

Odaily Odaily reports that MSCI, a global provider of stock and ETF market benchmarks, has announced it will not remove Bitcoin treasury company Strategy from its index for the time being. However, a hidden clause—"MSCI will not implement any increases to the Number of Shares (NOS)"—has drawn community attention. This clause means that shares newly issued by Strategy through ATMs will not be included in the MSCI index weighting and will not trigger passive fund purchases. In other words, MSCI acknowledges the existence of cryptocurrency reserve stocks but refuses to continue providing passive funds to support ATM issuances. Even if Strategy issues more shares, passive funds will not follow suit, cutting off incremental funds. It is understood that besides Strategy, potentially affected Bitcoin treasury companies include Metaplanet and Capital B. (CryptoSlate)