MSCI announced on November 11 that it will remove Bitcoin treasury firms Strategy and Metaplanet from its indexes under a new method that excludes “non-operating” companies. Strategy will leave its global standard indexes and Metaplanet its global small-cap indexes on November 30.
The source expects the removals to put selling pressure on both stocks but does not report outflows as having occurred. According to a Strategy filing cited by the source, funds tracking MSCI indexes hold almost $3 billion in Strategy shares, more than 3% of its stock supply. Other crypto treasury firms are on MSCI’s watchlist; the source does not say they will be removed.
