MSCI to Exclude Strategy and Other Crypto Companies from Stock

MSCI has approved new rules under which companies without significant operational activities will be excluded from global stock indices.

The restrictions affect Michael Saylor's Strategy (MSTR), which uses raised capital to buy BTC. Potential candidates for exclusion also include Metaplanet and Yellow Cake.

Exclusion may force index funds tracking MSCI to sell shares of these companies. According to Strategy, such funds hold about 3.1% of its shares.

The new rules will take effect in November 2026 as part of the regular index review.