MSCI confirmed that Strategy would be removed from its global equity indexes after the Nov. 30 market close. The removal had not yet taken effect and could prompt funds tracking the indexes to sell shares. JPMorgan previously estimated roughly $2.8 billion in potential selling pressure.
In a response to MSCI’s proposed rules, Strategy argued that the changes targeted digital asset treasury companies. It said MSCI-linked funds held about 13 million of its shares, or 3.1% of its basic shares outstanding. Strategy’s stock decline coincided with a broader cryptocurrency sell-off, but the excerpt does not establish what caused the decline.
