MSCI Could Drop Strategy and Metaplanet From Global Indexes in November

MSCI has consulted with market participants regarding the proposals and plans to implement them at the November 2026 Index Review. If enacted, Strategy and Metaplanet would be deleted from all Global Investable Market Indexes at that Review. 

May 2026 backtests with the proposed methodology identified these two Bitcoin treasury companies and U.K. uranium investor Yellow Cake among those that would be deleted.

The index provider MSCI is still seeking feedback until Sept. 30 and is expected to announce the outcome of the consultation on or around Oct. 16. If adopted, it could be implemented for the next review in November, although MSCI has cautioned that the consultation does not guarantee any or all of its proposed changes.

The updated rule is more broad than a previously proposed MSCI rule allowing a crypto-specific threshold, limited to treasury businesses of digital asset companies, which was scrapped in February following concerns from investors over whether a simple asset test could distinguish between operating companies and investment vehicles. Strategy had called the previous 50% digital asset threshold arbitrary.

The proposal was to apply a two-stage screen to each industry, with automatic passing of the screen by issuers that held operating assets greater than 50% of total assets.