MSCI Adopts New Rules That Could Kick Strategy Out of Global Indexes — Crypto Treasury Stocks Face Selling Risk

 Index provider MSCI said on Thursday that it will adopt new eligibility rules for its Global Investable Market Indexes. Under the change, companies classed as "non-operating" would no longer qualify for a place in those indexes, and MSCI has already named Strategy as a company that would be deleted under this method. Metaplanet and Upexi were also reported as possible removals.

The test is based on operating assets and five financial ratios. A company that fails at least four of the five tests can be judged ineligible. Companies already in the index generally have to fail the screening over two annual reporting periods before they are removed, so this is a process traders will watch over time, not a sudden overnight exit.

Other crypto treasury firms are not clear yet either. Sharplink, Ton Strategy Company, Solana Company and DeFi Development Corp were named as companies that would go on a watchlist for possible removal. MSCI says the final list of removals will be published on November 11, and the changes are set to take effect on November 30, 2026.

For traders, the risk is simple: funds that track MSCI indexes must hold the companies in those indexes. If a stock is removed, those funds have to sell it, which can push the price down and cut a steady source of passive buying. JPMorgan analysts had earlier estimated that a Strategy exclusion could bring about $2.8 billion in selling, although that estimate was made for an earlier MSCI digital-asset proposal, not for the rules adopted this week.

Strategy has pushed back in the past and has also tried to calm fears, saying in August that funds tracking these MSCI indexes hold about 13 million of its shares — around 3.1% of its basic shares — which it described as less than one day of trading volume. The next key date for crypto treasury stocks is November 11, when traders will see exactly which names are on the final removal list.

Read also: BREAKING: Saylor's Strategy Now Holds 848,250 Bitcoin — But Its Latest Buy Is the Smallest of 2026

This post is news only, not financial advice. Always do your own research before buying or selling crypto.

Sources: Cointelegraph, FXStreet, CryptoCompass