Strategy, Metaplanet May Face MSCI Index Removal, Decision Expected in October

BlockBeats News, August 14th. MSCI is soliciting feedback on a new non-operating company identification methodology that could potentially result in Strategy and Metaplanet being removed from the MSCI Global Investable Market Index. Based on a simulation using May 2026 data, Strategy, Metaplanet, and the uranium investment company Yellow Cake would be excluded from the MSCI ACWI IMI, while companies like SharpLink would be added to the public observation list.

The new methodology will involve a two-step screening process. Companies will first undergo an operational asset structure test. If they fail this test, they will then be evaluated based on five criteria: the proportion of operational assets, expense intensity, operational cash flow, fair value changes, and capital reliance. A company that fails the core test and triggers at least four exclusion conditions may be deemed ineligible for index inclusion.

For companies already included in the index, MSCI plans to apply a relatively lenient threshold and require two consecutive reporting periods of failing the screening before removal. In the May 2026 simulation, Strategy had a post–free float market cap of $23.9 billion, making it the largest company flagged for potential removal.

MSCI stated that the proposal will not immediately change index constituents. They are seeking feedback from market participants until September 30th and expect to announce the consultation results by October 16th. Previously, JPMorgan analysts estimated that if Strategy is excluded from the MSCI index, it could trigger passive outflows of around $2.8 billion.