JPMorgan vs Bitcoin Treasuries: Why BTC Supporters Are Pushing a Bank Boycott for 2026

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This article was first published on The Bit Journal: Why are Bitcoin supporters advocating a boycott over the JPMorgan crypto Index exclusion plan? Read on to find out.

Supporters of BTC Treasury Company Strategy and the broader Bitcoin community are up in arms over JPMorgan’s plan to exclude crypto treasury companies from its indexes in 2026. The anger is now heightening towards the multinational investment bank, with calls to boycott JPMorgan increasing.

According to an X post by The Bitcoin Therapist, the growing anger in the Bitcoin community stemmed from news about the JPMorgan crypto index exclusion plan. The investment bank is said to have shared the MSCI news in a research note that went public. The reports indicate that MSCI could remove crypto treasury firms from its stock indexes, forcing asset and fund managers to automatically sell their shares anytime they need to buy specific types of financial instruments.

Boycott of JPMorgan — Users are calling for the boycott of JPMorgan in protest to the plan

Losses Could Spill Over to the Crypto Market

Analysts have warned that such an act could hurt the entire cryptocurrency market. What followed are strong reactions that have culminated in calls to boycott JPMorgan. Members of the Bitcoin community see the proposed JPMorgan crypto index exclusion plan as a direct attack on crypto treasury companies. According to the proposal, any company with over 50% of its balance sheet in crypto assets qualifies for index exclusion.

As a result of the said exclusion, index-tracking asset and fund managers that are traditionally required to hold only approved financial instruments would have to sell their holdings automatically. Crypto experts believe that the resulting selling pressure would negatively impact the share prices of crypto treasury companies, potentially spilling over into the broader cryptocurrency market.

Responding to the call for users to boycott JPMorgan, Bitcoin advocate and real estate investor Grant Cardone stated:

“I just pulled $20 million from Chase and am suing them for credit card malfeasance […] crash JP Morgan and buy Strategy and BTC.”

BTC Treasury Firms Could Lose Index Eligibility and Passive Capital

Other prominent members of the Bitcoin community who are escalating the backlash over the alleged JPMorgan crypto index exclusion plan include Max Keiser, who has accused the bank of undermining companies with a significant portion of their strategic reserves in Bitcoin.

Strategy founder and CEO Michael Saylor has rejected MSCI’s classification, arguing that his company was a Bitcoin-backed structured finance and not a passive investment tool. Should the JPMorgan crypto index exclusion plan go through, firms having over 50% of their balance sheets in BTC could lose index eligibility in addition to the passive capital they earn.

Conclusion

The planned JPMorgan crypto index exclusion plan, if implemented, could have far-reaching effects on the entire cryptocurrency sector. Analysts opine that any forced reductions in crypto holdings would impact bitcoin treasury companies and eventually weaken the prices of crypto assets, especially Bitcoin, whose value has dropped by at least 30% since its October highs. As the MSCI decision deadline set for January 15, 2026, nears, only time will tell whether industry players will heed the boycott of JP Morgan call.

Glossary of Key Terms

BTC Treasury Companies: Firms that incorporate Bitcoin into their strategic financial reserves, or “treasury,” alongside or in place of traditional assets like cash, bonds, and money market funds.

MSCI Indexing: A stock market benchmark created by Morgan Stanley Capital International to measure the performance of specific global equity markets.

JPMorgan: A global financial services firm with a history that can be traced back to the early 19th century.

Frequently Asked Questions about MSCI Indexing

What is MSCI’s role in the financial services industry?

MSCI provides critical decision support tools, data, analytics, and research-based indexes that help investors understand and analyze risk and return drivers to build more effective portfolios.