Bitcoin treasury companies Strategy and Metaplanet may be removed from MSCI’s global market indexes after the index provider decided to adopt new rules. The new rules will exclude certain non-operating companies from its global indexes. Both companies could be affected because they hold large amounts of Bitcoin and may not meet the new requirements.
MSCI will release the final list of companies facing removal on November 11, 2026. Other crypto treasury firms, including Bitmine, Upexi, Cypherpunk Technologies and DeFi Development, are also being watched under the new rules.
MSCI made this decision after studying the responses received during a consultation that began in August 2026. The company wanted to identify businesses that operate more like investment funds than regular companies.
BREAKING: MSCI to remove Strategy and other “non-operating” companies from their indexes.
$MSTR is -4% so far on this news while $BTC has dropped -0.5%. https://t.co/iO28iroxdK
— Satoshi Stacker (@StackerSatoshi) October 15, 2026
Under the new method, MSCI will first check whether a company has substantial operating costs. If a company does not pass this test, it will be checked using five financial measures. These include operating assets, expenses, cash flow, fair value and dependence on outside capital.
A company may face exclusion if it fails at least four of these five financial tests. MSCI will also examine the company’s two most recent annual filings before deciding whether it should remain in the index.
Strategy and Metaplanet were among the companies identified as potentially affected in MSCI’s assessment. Both are known for holding Bitcoin as a major part of their corporate treasury strategy. Investors will now watch closely to see whether they remain in the indexes.
BREAKING: MSCI confirms new rules to exclude non-operating companies from its indexes.
🔸Michael Saylor’s Strategy and Metaplanet likely to be removed.
🔸 Final list Nov 11.
$MSTR https://t.co/duwzGJoDHY
— Bitcoin Archive (@BitcoinArchive) October 15, 2026
The new rules will replace the temporary measures that MSCI had earlier introduced for digital asset treasury companies. The final decision could matter to investors because companies included in major indexes may attract investments from funds that track those indexes.
Meanwhile, Strategy shares fell more than 1% in overnight trading, reaching around $149, according to TradingView data. However, the possible removal of the company from MSCI indexes does not mean that it will automatically stop buying or holding Bitcoin. The main question is whether it will continue to meet MSCI’s requirements for inclusion in its indexes.
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