MSCI Drops Saylor's Strategy From Its Index Amid BTC Sell-Off

What happened

MSCI’s November 2026 Index Review proposes removing Strategy from the MSCI USA Index and Metaplanet from the MSCI Japan Small Cap Index. These changes are scheduled to take effect after the market close on November 30, 2026, so the removals are not yet final.

Proposed

Global impact / market context

Index-tracking funds use these benchmarks to decide which shares to hold. If the removals take effect, funds following the indexes may sell Strategy and Metaplanet shares, potentially reducing demand and affecting their stock prices; the article does not quantify any resulting flows or price moves.

Analyst inference

The review follows MSCI’s October proposal for new measures concerning companies that hold substantial amounts of crypto. MSCI says companies failing at least four of five financial tests over consecutive annual reporting periods may face removal, linking index eligibility to operating assets and financial ratios.

Confirmed

What to watch

1. The scheduled November 30, 2026 effective date: until then, Strategy’s and Metaplanet’s removals remain pending, and the article reports no completed change. Confirmed
2. Whether MSCI applies its proposed crypto-treasury measures and how it assesses companies against the five financial ratio tests and operating-asset requirement. Proposed
3. If removal proceeds, index-tracking funds may adjust holdings, creating potential selling pressure on the two companies’ shares; the article gives no estimate of its scale. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• u.today