MSCI Moves Forward With Proposal That Could Exclude Strategy From Index

Opening

MSCI has adopted new rules that could lead to Strategy (MSTR) being excluded from its global equity benchmarks. The index provider said the changes will be part of the November 2026 index review and will take effect at the close of November 30, 2026.

Key numbers

• 848,250 bitcoins held by Strategy


• $69.2 bn value of those bitcoins


• August 3, 2026 – consultation announced


• November 2026 – index review planned


• November 30, 2026 – effective date

Official source

What is confirmed

• MSCI announced a consultation on August 3, 2026.


• The new rule classifies non-operating companies as ineligible for the MSCI Global Investable Market Indexes.


• The proposal will be implemented in the November 2026 index review.


• Changes will take effect as of the close of November 30, 2026.


• If Strategy is deemed a non-operating company, it may be excluded from the indexes.


• Strategy previously called the proposal "misguided" and "flawed" and said, "Bitcoin doesn’t need MSCI. Neither does Strategy."

What is still unclear

It is not known whether Strategy will be excluded immediately or after additional testing. The impact on its stock price and institutional holdings remains uncertain.

Why it matters

An exclusion would likely limit the number of institutional investors that can hold Strategy stock. This could reduce the company’s exposure to the broader investment community and affect its ability to raise capital.

What happens next

MSCI will carry out the November 2026 index review. The review will determine if Strategy meets the new eligibility criteria and may result in its removal from the indexes.

Sources

• Bitcoin Magazine

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