Hunt4Coin

MSCI removes Strategy and Metaplanet from its indexes from 30 November

Published · by Hunt4Coin

MSCI's November 2026 index review, published after the US close on Wednesday 11 November, deletes Strategy (MSTR), the largest corporate holder of Bitcoin, from the MSCI USA Index and Metaplanet from the MSCI Japan Small Cap Index, with the changes taking effect at the close of Monday 30 November (The Block; Bitcoin Magazine; Cointelegraph).

What MSCI decided

  • Strategy (MSTR) is deleted from the MSCI USA Index; Bitcoin Magazine notes that this also takes it out of the MSCI World and ACWI indexes, which are built from the country indexes.
  • Metaplanet (Tokyo, 3350) is deleted from the MSCI Japan Small Cap Index (The Block; Bitcoin Magazine).
  • Upexi, a smaller crypto-treasury company, is marked "Deleted" from the USA Micro Cap Index (Cointelegraph; Bitcoin Magazine). Bitcoin Magazine also lists two non-crypto holding companies removed under the same rule: Yellow Cake (which holds uranium) and Iceland's Skel.
  • Not deleted: SharpLink, which holds Ether, was not among the deletions; Cointelegraph and Bitcoin Magazine say it sits on a watch list with other names.
  • When: at the close of 30 November 2026, so index funds that track these indexes would normally sell around that close.

All five deletions had already appeared on MSCI's October list of likely changes, according to Bitcoin Magazine, so the review confirmed rather than surprised.

What the rule actually tests

The rule, adopted on 15 October, does not mention Bitcoin. As Bitcoin Magazine describes it, MSCI first checks whether operating assets make up at least half of total assets; a company that fails is then tested on five financial ratios and becomes ineligible if it is flagged on four or more. A current member is removed only if it fails in both of its two most recent annual reporting periods. It replaces the temporary restrictions MSCI had placed on companies holding at least half their assets in crypto (The Block). In short: a company that mostly holds an asset, rather than running a business, is treated more like a fund than an operating company.

How much selling, and how the shares reacted

  • Estimates: JPMorgan had estimated about $2.8 billion of passive selling of Strategy shares, and up to $8.8 billion more if other index providers followed; that estimate dates from last year's earlier proposal, and MSCI has published no figure of its own (Bitcoin Magazine; Cointelegraph).
  • Strategy's view: funds linked to MSCI's indexes hold about 13 million shares, 3.1% of its basic shares, which Strategy says is less than one day's trading volume (Cointelegraph). In a letter to MSCI, its executive chairman Michael Saylor and chief executive Phong Le called the treatment of digital-asset treasury companies discriminatory (The Block).
  • The shares: MSTR closed Wednesday at $122.35 (+1.06%) and was down between about 1.5% and 2.6% after hours, depending on the time of the quote (Bitcoin Magazine: $120.50 at 5:34 p.m. ET; The Block: $119.06). Metaplanet had closed Wednesday in Tokyo at ¥231 (−2.53%), before the announcement (The Block).
  • Bitcoin: none of the three reports links a Bitcoin move to the decision. On Binance, the daily BTC/USDT candle of 11 November closed at $74,015.19 (+0.30%), after a low of $73,209.12 (Hunt4Coin's chart data).

Why it matters for crypto readers

Strategy holds 850,364 BTC at an average cost of $75,456, according to its filing for the week to 8 November cited by Bitcoin Magazine, so Bitcoin traded close to the company's average cost this week. Index deletions change who must own a share; they don't by themselves change the Bitcoin a company holds. Forced index selling usually happens around the effective close, which is why traders mark such dates on the calendar. We don't forecast what MSTR or Bitcoin will do around it.

You can follow Bitcoin on the free Bitcoin page with candle charts, and read how big scheduled events show up on the chart in our lesson on timeframes. Today's wider market recap is in our other story for 12 November.

Information only, not financial advice. Trading crypto, stocks, metals, oil or forex is risky; never trade money you can't afford to lose.

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