MSCI adopts new rules excluding non-operating companies from major indexes, likely removing MicroStrategy (MSTR) by Nov. 30, potentially triggering forced selling pressure on a major leveraged BTC proxy.
Macro & Markets ·
MSCI has implemented rules that will exclude companies failing an operating-assets test and triggering at least four of five financial exclusion criteria from its Global Investable Market Indexes, with MicroStrategy and Metaplanet identified as likely candidates for removal under the framework. The final list of affected companies will be announced November 11, with the exclusions taking effect after November 30, potentially forcing passive index funds to sell their holdings in MicroStrategy, a major Bitcoin treasury holder. Existing constituents must fail the screening across their two most recent annual filing periods before removal proceeds.