{"id":14562,"date":"2026-10-16T08:58:04","date_gmt":"2026-10-16T08:58:04","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=14562"},"modified":"2026-10-16T08:58:04","modified_gmt":"2026-10-16T08:58:04","slug":"strategy-faces-potential-msci-index-exclusion-under-new-rules","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=14562","title":{"rendered":"Strategy Faces Potential MSCI Index Exclusion Under New Rules"},"content":{"rendered":"<p><\/p>\n<div>\n<div id=\"blockquote-block_c2ebbfc34d40d7c47f77be568971e01b\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MSCI will assess companies with substantial non-operating assets using operating-asset, expense, cash-flow, valuation and capital-raising tests.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Companies flagged on four of five tests become ineligible, although existing constituents must fail across their two latest annual periods.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">JPMorgan previously estimated Strategy could face US$2.8 billion in passive outflows if removed from MSCI indices.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MSCI will publish affected companies on 11 November 2026, with index changes taking effect after the close on 30 November.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">MSCI has adopted new index eligibility rules which could put companies like Michael Saylor\u2019s Strategy at risk of dropping out of MSCI indices.<\/p>\n<p class=\"wp-block-paragraph\">MSCI\u2019s new rule applies to companies with substantial non-operating assets, replacing the earlier, narrower focus on crypto treasury firms with 50%+ crypto holdings.<\/p>\n<p class=\"wp-block-paragraph\">Under the initial screen, if more than 50% of assets are operating assets, the company passes.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">However, if it fails, MSCI checks five ratios: very low operating assets (below 20%, or 10% for existing constituents), operating expenses under 5% of assets, negative operating cash flow, large fair-value swings in non-operating assets, and heavy reliance on external capital raising.<\/p>\n<p class=\"wp-block-paragraph\">A company flagged on four of the five becomes ineligible for MSCI\u2019s Global Investable Market Indexes.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Related:<\/strong> <strong>Strategy Pushes Back on MSCI Plan to Exclude Crypto-Heavy Firms, Warning of Bias Against Digital Assets<\/strong><\/p>\n<p class=\"wp-block-paragraph\">There is a buffer, though: existing constituents must fail in both of their two latest annual periods to be removed, while new candidates can be blocked by failing either one. MSCI may also weigh more recent interim filings.<\/p>\n<p class=\"wp-block-paragraph\">Strategy is currently included in major MSCI benchmarks including the MSCI World and MSCI USA indexes, meaning its shares are held by funds that track those benchmarks. Its inclusion also feeds into broader global indexes such as MSCI ACWI.<\/p>\n<h2 id=\"h-the-potential-impact-on-strategy\" class=\"wp-block-heading\">The Potential Impact on Strategy<\/h2>\n<p class=\"wp-block-paragraph\">JPMorgan previously estimated that Strategy could face about US$2.8 billion (AU$4.03 billion) in passive outflows if it were removed from MSCI indices, with another US$8.8 billion (AU$12.66 billion) potentially at risk if other index providers followed suit.<\/p>\n<p class=\"wp-block-paragraph\">The rules take effect with the November 2026 index review, and MSCI will publish the final list of affected companies on 11 November, with changes effective after the close on 30 November.<\/p>\n<p class=\"wp-block-paragraph\">None of this means that Strategy has to sell Bitcoin, and Saylor has played down the potential impact. Before MSCI announced its decision, he said in an interview on Bloomberg Crypto that a potential exclusion was \u201cnot that important to us\u201d.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Read also:<\/strong> <strong>US Inflation Spooks Markets, Sends BTC Below $82K Amid Rate Hike Fears<\/strong><\/p>\n<p class=\"wp-block-paragraph\">However, Saylor also said MSCI\u2019s position had been \u201cdisappointing\u201d and criticised the index provider for \u201cimposing prejudicial values on digital assets\u201d.<\/p>\n<p class=\"wp-block-paragraph\">Saylor said deciding that oil, machinery, land and natural gas were capital but Bitcoin was not was \u201ca value judgment\u201d, adding that MSCI was \u201cacting like an unregistered financial advisor\u201d.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n        <\/div>\n<p>Microstrategy,MSCI#Strategy #Faces #Potential #MSCI #Index #Exclusion #Rules1792141084<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MSCI will assess companies with substantial non-operating assets using operating-asset, expense, cash-flow, valuation and capital-raising tests. Companies flagged on four of five tests become ineligible, although existing constituents must fail across their two latest annual periods. JPMorgan previously estimated Strategy could face US$2.8 billion in passive outflows if removed from MSCI indices. MSCI will publish<\/p>\n","protected":false},"author":1,"featured_media":14563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[7433,147,2169,878,265,390,107],"class_list":["post-14562","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-exclusion","tag-faces","tag-index","tag-msci","tag-potential","tag-rules","tag-strategy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Strategy Faces Potential MSCI Index Exclusion Under New Rules - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=14562\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strategy Faces Potential MSCI Index Exclusion Under New Rules\" \/>\n<meta property=\"og:description\" content=\"MSCI will assess companies with substantial non-operating assets using operating-asset, expense, cash-flow, valuation and capital-raising tests. 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