According to CoinMeta, in response to the proposal by Strive CEO Matt Cole to remove financial companies from their index proposed by MSCI, they stated that this proposal regarded financial companies as "non-operational." He said, "Issuing digital credit based on the BTC balance sheet is a financial intermediary service." Cole further pointed out, "The BTC on our balance sheet is a business input; without it, our products would not be possible to be realized." He also mentioned, "If MSCI cannot articulate and apply this rule transparently, it should abandon this exclusion."