MSCI rules could drop Strategy, Metaplanet from indexes
TITLE: MSCI Rule Changes Threaten MicroStrategy and Metaplanet Index Status
MSCI has implemented new eligibility standards that may result in the removal of MicroStrategy and the Japanese firm Metaplanet from its global equity benchmarks. These changes, announced on October 15, target companies that the index provider classifies as non-operating entities. According to MSCI, firms that primarily hold assets for investment purposes rather than utilizing them for active business operations will no longer be eligible for the Global Investable Market Indexes starting at the conclusion of November 30.
NEW Eligibility Rules and Ratios
The methodology involves a multi-step screening process. First, MSCI evaluates whether a company possesses significant operating assets. Following this, the firm examines five specific financial ratios related to cash flow, expenses, fluctuations in asset value, and the degree of reliance on external financing. A company is deemed ineligible if it fails the initial operating asset assessment and at least four of the five financial ratios. To prevent excessive index turnover, MSCI has included buffers regarding the timing of removals and the specific ratio thresholds. Generally, current members will only face exclusion if they fail these screens during their two most recent annual filing periods, though the provider may also consider the latest interim filings.
Potential Deletions from Global Indexes
A simulation conducted using data from May 2026 identified MicroStrategy, Metaplanet, and the United Kingdom-based uranium investment company Yellow Cake as candidates for deletion from the MSCI ACWI Investable Market Index. While these simulations highlight potential risks, the final determination will not be confirmed until MSCI releases its official list on November 11. This update will be published on the index provider's dedicated announcements page. These new regulations are set to replace interim restrictions that MSCI first introduced in October 2025, which targeted companies holding digital assets worth 50 percent or more of their total asset value.
Impact on Microstr
Source: forexcrunch.com · 2026-10-18