According to the source, a bitcoin treasury leader argued to MSCI that excluding crypto-buying firms from its indices would hurt U.S. national security. Source: user-provided X post dated December 10, 2025. For traders, the issue centers on MSCI index eligibility for companies holding BTC on balance sheets, as MSCI indices are widely tracked by index funds and ETFs, meaning any policy clarification could influence passive flows and stock liquidity. Source: MSCI states in its public materials that its indices are used by index-tracking funds and ETFs.