US Crypto Stocks Had a Mixed Close as MSTR Gains in After-Hours Trading on Positive News

US crypto stocks ended mixed on Tuesday, with MicroStrategy (MSTR) down 4.1% during regular trading but rising by 7.17% in after-hours trading following a positive decision by index provider MSCI Inc. The firm decided not to exclude companies holding digital assets like Bitcoin in their corporate treasuries from its global indexes according to Coindesk.

MSCI's decision alleviated immediate concerns for firms like MSTR, which hold significant amounts of Bitcoin on their balance sheets. The firm had previously faced potential exclusion plans by MSCI, which could have led to forced selling by index-tracking funds. The announcement was seen as a reprieve for companies that use Bitcoin as a core component of their treasury strategy.

The outcome also provided a broader validation for the corporate adoption of digital assets. The decision followed increased regulatory clarity, including the approval of spot Bitcoin ETFs, improved accounting standards for crypto assets, and sustained institutional demand for Bitcoin exposure as reported.

Why Did This Happen?

MSCI's reversal was influenced by a number of factors, including the maturation of the crypto market and its integration into traditional finance. Companies like MicroStrategy, which hold large amounts of Bitcoin, have increasingly positioned themselves as digital credit firms rather than passive funds. This strategic shift has gained traction with investors and is now being reflected in market infrastructure.

The firm's decision to continue its inclusion in MSCI indexes was also backed by its leadership. MicroStrategy's executives argued that the company's stock provides high-beta exposure to Bitcoin, making it attractive to investors who want to bet on the asset's performance without holding it directly according to Coindesk.

The broader crypto market also showed resilience. While Bitcoin prices remained volatile, the total market cap has rebounded from previous losses. The market saw a significant drop of nearly $200 billion in value during the peak of government shutdown fears but has since stabilized as political risks have receded according to Coinpedia.

What Are Analysts Watching Next?

Analysts are now monitoring whether MSCI or other major index providers will revise their rules in the future. The current decision is seen as a temporary reprieve for firms like MSTR, with some experts cautioning that future changes could still impact its inclusion according to Coindesk.

In addition, investors are watching how the broader market reacts to the easing of government shutdown fears. The risk of a shutdown in January 2026 has dropped to 26%, down from a peak of nearly 38%, according to prediction market data. This decline has helped stabilize markets and reduce uncertainty around policy and economic data according to Coinpedia.

The performance of spot crypto ETFs is also a key area of focus. These funds have seen strong inflows in recent weeks, with Bitcoin ETFs attracting over $470 million in net inflows on January 2 alone. Ethereum ETFs added $174 million, highlighting continued institutional interest according to TradingView.

Crypto M&A and IPO activity has also remained robust. Over 265 M&A transactions were completed in 2025, with a total value of around $8.6 billion. At least 11 crypto companies went public in 2025, raising $14.6 billion globally, compared to just $310 million in 2024 according to TradingView.

Overall, the market remains cautious but optimistic. While regulatory and market risks persist, the recent developments suggest that digital assets are increasingly being integrated into mainstream financial systems. Investors are advised to closely monitor regulatory changes and market trends as the year progresses.