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first_img MSCI's new proposal may exclude Strategy and Metaplanet from the global investable index

According to CoinDesk, the index provider MSCI has launched a new round of consultations, proposing to exclude so-called "non-operating companies" from its Global Investable Market Indexes. This classification will no longer use the proportion of crypto assets as the sole threshold but will adopt a two-step screening process: first, it will check whether operating assets exceed 50% of total assets; those that do not pass will then be assessed based on five financial ratios: operating asset intensity, expense intensity, cash flow, fair value intensity, and capital dependence. If at least four of these do not meet the standards, they will not qualify for inclusion.If the current data is applied to the MSCI ACWI IMI Index, Bitcoin-holding companies Strategy (MSTR), Metaplanet (3350), and uranium holder Yellow Cake will be excluded. Strategy has cumulatively held approximately 840,400 BTC since 2020, while Metaplanet holds about 43,000 BTC. MSCI's description of "non-operating companies" refers to businesses that create value by accumulating and holding non-operating assets, have limited operating cash flow, and rely on external financing for expansion.The consultation for collecting opinions will end on September 30, with results expected to be announced around October 16; even if approved, the related adjustments will not take effect until the index review in November 2026 at the earliest. Previously, a consultation in October 2025 regarding "digital asset treasury" companies, which set a standard of 50% for crypto asset proportion, had caused market fluctuations and industry opposition, ultimately being postponed.

Gate released the July transparency report, with derivatives market share ranking second globally

The digital asset trading platform Gate released its transparency report for July 2026. The report shows that the platform has maintained growth in multiple areas including trading, TradFi, and innovative businesses, strengthening the global multi-asset ecosystem that connects digital assets with traditional capital markets. In July, Gate launched zero-fee trading for US stocks and ETFs, and introduced features such as gStocks, stock copy trading, and account asset interest generation, covering over 12,500 stock and ETF assets, with the number of ETF products increasing to 386 trading pairs and a monthly trading volume of approximately $20 billion. Meanwhile, the cumulative subscription amount for Pre-IPOs of OpenAI exceeded $260 million, indicating a continued increase in global demand for high-quality pre-IPO asset allocation.Gate's innovative business also continued to strengthen in July. The average daily trading volume in the event contract market increased by over 13% month-on-month, with daily trading volume consistently ranking among the top three globally, and market share once exceeding 36%, setting a historical record; CandyDrop contracts surpassed $4.6 billion, and the cumulative staking amount for Launchpool reached $490 million, with SLX peak APR exceeding 135%, breaking the platform's historical record. According to CoinDesk data, Gate has also made significant achievements in promoting the integration of traditional finance and digital assets, with the trading volume of RWA perpetual contracts across the network rising to $460 billion in July, setting a historical high. Gate holds a 4.39% market share, ranking among the top three global centralized trading platforms, becoming an important leader in this sector. Additionally, Gate's futures trading volume reached $276 billion in July, with a derivatives market share of 9.08% and an open interest market share of 11.2%, firmly maintaining its position among the top two retail trading platforms. As stocks, ETFs, gStocks, Pre-IPOs, direct IPOs, and innovative trading products continue to improve, Gate is constantly expanding its global asset trading and investment service capabilities.

Gate has become the largest platform in TradFi, accelerating the connection between CFD, crypto funds, and global assets

The Gate Research Institute recently reported on "The TradFi Battle of Cryptocurrency Exchanges: Gate CFD's Path to Cross-Asset Breakthrough," indicating that since 2026, cryptocurrency trading platforms represented by Gate have been accelerating their breakthrough of digital asset boundaries, with CFD business becoming the primary trading entry point connecting stablecoin funds and global traditional assets. As user demand for trading and hedging in gold, foreign exchange, stocks, indices, and commodities grows, industry competition has shifted from merely competing on leverage and trading varieties to a comprehensive contest of asset coverage, liquidity, execution quality, risk management, and capital efficiency.In this round of TradFi expansion, Gate is forming a clear first-mover advantage. According to publicly available data, Gate accounts for approximately 39.4% of the trading volume among the five platforms that have disclosed TradFi transaction amounts, completing its transition from catching up to leading in just two months, becoming the largest top-tier platform. More notably, Gate's layout is no longer limited to increasing CFD categories but is based on USDT and a unified account entry, connecting CFDs, perpetual contracts, stocks, ETFs, IPO Access, and wealth management, while further accommodating professional and institutional funds through tools such as API, copy trading, OES, and CrossEx. Whether Gate can convert its temporary transaction advantage into long-term liquidity, capital retention, and professional service capabilities in the next phase will be key to whether its TradFi strategy can form a sustainable barrier.
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