THIS IS MUCH BIGGER THAN MSTR! The MSCI are proposing that any CRYPTO company that hold more than 50% of its balance sheet in a certain crypro asset be deemed a fund and hence excluded for passive indexes. For Bitcoin treasury companies I understand the concern. I don’t agree with MSCI and am aligned with Saylor. For ETH,SOL and other proof of stake assets the case is even better. They typically stake, run validators, seed liquidity pools, earn yield etc. These are not trusts, funds or holding companies.(Ran Neuner)