MSCI adopts new index exclusion rules potentially removing Strategy and others from global indexes

MSCI adopted a methodology on Thursday to exclude "non-operating companies" from its MSCI Global Investable Market Indexes, potentially leading to the removal of Strategy, Metaplanet, and Upexi. Other crypto treasury companies, including Sharplink, Inc (SBET), Ton Strategy Company (TONX), Solana Company (HSDT), and DeFi Development Corp. (DFDV), are on a watchlist. Companies failing at least four of five tests based on operating assets and financial ratios could be deemed ineligible, with the final removal list due on Nov. 11 and effective on Nov. 30, 2026.