Bitcoin Magazine

MSCI Rules Today on Cutting Strategy (MSTR) From Its Indexes After a Draft List Marks It Deleted
MSCI will say Wednesday evening whether Strategy stays in its global stock indexes, after its own potential list already marked the largest corporate bitcoin holder as Deleted.
The index provider publishes its November 2026 Index Review shortly after 5 p.m. ET. MSCI said on Oct. 15 that the review would carry the final list of current constituents hit by the new screen, with any deletions taking effect at the close of Nov. 30.
MSCI’s list of potentially impacted securities, published with the Oct. 15 decision and built on Sept. 30 financial data and Oct. 9 market values, already marks five companies as Deleted: Strategy (MSTR), uranium holder Yellow Cake, Japan’s Metaplanet, Iceland’s Skel Fjárfestingafélag and micro-cap Upexi.
Strategy is the only large-cap name in the group and by float-adjusted market value accounts for more than 90% of the five. The company held 850,364 bitcoin as of Nov. 8, acquired at an average price of $75,456 a coin.
The rule does not mention bitcoin. MSCI first checks whether a company’s operating assets exceed 50% of total assets. Issuers that fail face five financial ratios, and a company flagged on four or more of them is ineligible for the MSCI Global Investable Market Indexes.
Buffers limit turnover. A company outside the indexes cannot be added if it fails the screen in either of its two most recent annual filing periods, but a current constituent is removed only if it fails in each of them.
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