- Strategy and Metaplanet face potential exclusion; final removals remain unconfirmed.
- Existing constituents must fail the screening across two annual reporting periods.
- The final list arrives November 11, with changes effective after November 30’s close.
New MSCI rules could remove Bitcoin treasury firms Strategy and Metaplanet from its Global Investable Market Indexes. The provider adopted its revised eligibility framework on October 15, targeting companies classified as non-operating businesses. Both firms appeared as potential removals in an earlier simulation, but the final list will not arrive until November 11.
MSCI rules introduce operating assets and financial tests
In its official announcement, the provider confirmed a two-stage assessment. Companies first undergo a core screen measuring whether they have substantial operating assets.
Those failing that screen face five financial-ratio tests. Being flagged on at least four of the five ratios makes a security ineligible, subject to the framework’s buffers.
For existing constituents, the MSCI rules require failure in both of their two most recent annual filing periods before removal. The provider may also consider the latest interim filing where available.
The earlier simulation used May 2026 data, so it does not establish the outcome for individual companies. A watchlist designation likewise signals scrutiny rather than confirmed deletion.
The distinction matters because updated filings could affect eligibility assessments. Investors must therefore separate the adopted methodology from the forthcoming constituent decisions.
Potential index removals put passive fund demand in focus
The MSCI rules could affect demand from funds tracking the provider’s indexes. A deletion could prompt those funds to sell shares when they rebalance, although the resulting price impact remains uncertain.
JPMorgan previously estimated approximately $2.8 billion in potential selling for Strategy under an earlier digital-asset proposal. That figure should not be treated as an updated estimate for the newly adopted framework.
Strategy said in August that tracking funds held approximately 13 million shares, representing 3.1% of its basic shares outstanding. The company characterized that position as less than one day’s trading volume.
The MSCI rules will also replace temporary restrictions applied to companies holding digital assets worth at least half their total assets. Those measures included freezes on certain index adjustments and deferred additions or size-segment migrations.
The final affected-company list is scheduled for November 11. Implementation takes effect at the close of November 30, 2026.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
