Ask HN: Do “treasury” investing accounts impact QSBS eligibility?

Background: QSBS (qualified small business stock) is a major benefit for startup founders and early employees/investors, since if they purchase their shares, they won't have to pay federal income taxes on a big chunk of their exit.

However, in order to take advantage of this benefit, you need to maintain QSBS eligibility. There are rules.

One of those rules is that at least 80% of the issuing corporation's assets must be used in the operations of one or more of its qualified trades or businesses. Investing is explicitly excluded as a qualified trade or business. [1]

A lot of these new VC-backed banks springing up are offering high returns on savings via "treasury" products, where they turn around and invest their money in safe funds with high returns.

However, wouldn't this be using assets in a business (investing) that isn't a "qualified trade or business"? Do these fancy new treasury accounts negatively impact your company's QSBS eligibility?

Prominent example is Mercury Treasury, who promotes an "up to 4.01%" return, by investing your money for you. https://mercury.com/treasury

I feel like these companies should tell you the potential implications of using their products. These treasury accounts seem like they could cost you millions of dollars in taxes compared to traditional savings accounts...

Mainly looking to confirm what I suspect is true, and also raise awareness for others this may impact.

[1]: https://www.law.cornell.edu/uscode/text/26/1202