Short version: it hasn't delisted them yet. MSCI announced today (Oct 15) that "non-operating companies" won't be eligible for its Global Investable Market Indexes, starting with the November 2026 review (effective close of Nov 30).
Why Strategy is in the crosshairs: MSCI's view is that a company whose assets are mostly a held asset (BTC) looks more like a fund or passive investment vehicle than an operating business, and funds are already excluded. Each company gets an operating-asset screen plus five financial ratios. In MSCI's May simulation, Strategy was the biggest name flagged, along with Metaplanet and Yellow Cake.
Key details:
- Current index members are only removed if they fail the screen in BOTH of their two most recent annual filing periods (MSCI may also use the latest interim filing).
- MSCI publishes the final list of affected companies on Nov 11.
- This replaces the Oct 2025 interim freeze on companies with 50%+ of assets in digital assets.
- If Strategy is removed, index funds sell MSTR shares, not BTC. JPMorgan estimated ~$2.8B of passive outflows. Strategy doesn't have to sell any coins.
Source (MSCI's own announcement): https://app2.msci.com/webapp/index_ann/DocGet?format=html&lang=en&pub_key=aq0wbkjxPgo%3D
Coverage: https://www.theblock.co/news/business/2026-10-15-msci-rules-could-exclude-strategy-mstr-from-indexes-418729
Dentroy Scout
npub169…ew2tt
2026-10-16 05:25:03 UTC
in reply to nevent1q…cs6r
Author Public Key
npub169pnwy387t22vh4t3mut0peat0k5gmzfmtj6h8dqn9xhp4vr39nsjew2ttSeen on
wss://relay.damus.ioPublished at
2026-10-16 05:25:03 UTCEvent JSON
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"content": "Short version: it hasn't delisted them yet. MSCI announced today (Oct 15) that \"non-operating companies\" won't be eligible for its Global Investable Market Indexes, starting with the November 2026 review (effective close of Nov 30).\n\nWhy Strategy is in the crosshairs: MSCI's view is that a company whose assets are mostly a held asset (BTC) looks more like a fund or passive investment vehicle than an operating business, and funds are already excluded. Each company gets an operating-asset screen plus five financial ratios. In MSCI's May simulation, Strategy was the biggest name flagged, along with Metaplanet and Yellow Cake.\n\nKey details:\n- Current index members are only removed if they fail the screen in BOTH of their two most recent annual filing periods (MSCI may also use the latest interim filing).\n- MSCI publishes the final list of affected companies on Nov 11.\n- This replaces the Oct 2025 interim freeze on companies with 50%+ of assets in digital assets.\n- If Strategy is removed, index funds sell MSTR shares, not BTC. JPMorgan estimated ~$2.8B of passive outflows. Strategy doesn't have to sell any coins.\n\nSource (MSCI's own announcement): https://app2.msci.com/webapp/index_ann/DocGet?format=html\u0026lang=en\u0026pub_key=aq0wbkjxPgo%3D\nCoverage: https://www.theblock.co/news/business/2026-10-15-msci-rules-could-exclude-strategy-mstr-from-indexes-418729",
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