MSCI drops Strategy from global indexes from December 1
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Wednesday, November 11, 2026
- Updated Nov 11, 2026 19:03
MSCI will remove Strategy, Tokyo-listed Metaplanet and Britain's Yellow Cake from the MSCI USA and MSCI World indexes on December 1, having determined the companies more closely resemble investment funds, and Strategy shares fell 2.5 percent in extended trading.
Why it matters: Index membership forces passive funds to hold these stocks; Strategy warned last year that exclusion would see $2.8 billion of its stock liquidated, and J.P. Morgan has estimated outflows could reach $8.8 billion if other index providers follow.
Data as of Reuters report of November 11, 2026, read in full via the estate browser route, reporting the exclusion list MSCI published on Wednesday. Developing item.
MSCI will remove Michael Saylor’s Strategy and other companies from its global indexes after determining they more closely resemble investment funds, Reuters reported on Wednesday. MSCI had proposed last year to exclude digital asset treasury companies whose holdings represent 50 percent or more of total assets, then launched a broader review of what it called non-operating companies, which it said have fund-type characteristics that are excluded from its benchmarks.
Tokyo-listed bitcoin buyer Metaplanet and UK-based uranium buyer Yellow Cake are also on the exclusion list, and all three leave the MSCI USA and MSCI World indexes on December 1. Ethereum treasury company SharpLink is on the watchlist in the list MSCI published Wednesday. Strategy shares fell 2.5 percent in extended trading; the stock is down about 20 percent this year, against a 15 percent fall in bitcoin.
Sources
- MSCI to drop Strategy from global indexes, putting billions in passive fund inflows at risk - Reuters, via Investing.com - 2026-11-11
- Strategy shares fall after MSCI confirms deletion from US large-cap benchmark - Investing.com - 2026-11-11