MSCI Index Matter Strategy has clarified its position as a publicly traded operating company, distinct from funds, trusts, or holding companies. With a $500 million software business, the company employs a unique treasury strategy utilizing Bitcoin as productive capital. This year, it completed five public offerings of digital credit securities, including $STRK, $STRF, $STRD, $STRC, and $STRE, totaling over $7.7 billion in notional value. The company also introduced Stretch ($STRC), a Bitcoin-backed treasury credit instrument offering variable monthly USD yields to both institutional and retail investors. Emphasizing its innovative approach, MSCI Index Matter Strategy aims to build a Bitcoin-backed structured finance company, focusing on capital markets and software innovation, rather than passive asset holding.