$MSCI

MSCI plans to revise its global index methodology to identify “non-operating” companies using five balance-sheet and cash-flow ratios, potentially removing Strategy (MSTR) from indices. MSCI simulations using May 2026 data suggest three removals: Strategy, Yellow Cake, and Metaplanet. Strategy challenged MSCI on Aug. 14 and has over 840,000 BTC. MSCI seeks comments until Sept. 30, 2026.

Strategy (Bitcoin treasury firm) criticized MSCI Inc.’s plan to exclude it from MSCI indices, arguing digital assets are assets and index providers should not decide which assets firms can own. MSCI’s revised framework would still target “non-operating companies.” The article cites MSTR’s Friday move and a 73% market-implied deletion odds by December.

MSCI opened an Aug 14, 2026 consultation to exclude “non-operating” companies from its Global Investable Market Indexes, using May 2026 data. The proposal would delete Strategy (MSTR), Metaplanet (3350) and Yellow Cake (YCA) from the MSCI ACWI IMI, with feedback due Sep 30 and results Oct 16. Passive outflows are estimated up to $2.8B, or $8.8B if adopted broadly.

According to Coinpedia, Strategy Inc Class A (MSTR) failed four of five MSCI non-operating company tests in May 2026 and could be reclassified as an asset-holding company, which may risk removal from MSCI indexes. Coinpedia also says Norway’s GPFG held 11,549 BTC (~$725M) in H1 2026, with MSTR representing about 81% (~$1.18B) of its indirect crypto exposure.

MSCI opened a consultation on whether non-operating companies qualify for its Global Investable Market Indexes. A simulation using May 2026 data could remove Strategy (formerly MicroStrategy), Metaplanet, and Yellow Cake from the MSCI ACWI IMI, with others on a watchlist. MSCI plans results by Oct. 16; Strategy said the proposal is inappropriate. MSTR was $92.67, down 4.5% on the day.

Strategy, a bitcoin treasury company, criticized MSCI’s proposed “non-operating company” index exclusion rules, saying index providers should measure markets rather than restrict what companies can own. It argues the rules would unfairly penalize bitcoin holdings and could remove Strategy, Metaplanet and Yellow Cake from MSCI ACWI IMI using May 2026 data.

MSCI said its August 2026 index review will add ANT, SBG and LDG to the MSCI Frontier Markets Small Cap Index, effective Aug. 31, 2026. CEO, DGW and HDG were moved from the MSCI Frontier Markets Index to the Small Cap Index. MSCI also adjusted other frontier stocks, with Vietnam remaining the largest-weighted country.

MSCI is consulting on proposals for its November 2026 Index Review that could delete Strategy and Metaplanet from Global Investable Market Indexes if they fail eligibility screens. A May 2026 backtest flagged Strategy, Metaplanet and Yellow Cake. MSCI seeks feedback until Sept. 30, with results expected around Oct. 16. Passive funds could be forced to sell if changes take effect.

MSCI opened a consultation on excluding “non-operating companies” from its Global Investable Market Indexes. A two-step screen would first check if operating assets exceed 50% of total assets, then apply five financial ratios, with failure of 4 of 5 making firms ineligible. Using May 2026 data, Strategy (MSTR) and Metaplanet (3350) would be removed from the MSCI ACWI IMI Index, with feedback due Sept. 30 and changes no earlier than the Nov. 2026 review.

Caixin reports MSCI will add 33 companies to its MSCI China Index, including semiconductor-related firms and AI developer Zhipu AI, and remove 32 stocks including China Vanke and multiple solar names. The changes follow MSCI’s August quarterly review and take effect after Aug. 31 close. Most additions are mainland A-shares focused on semiconductors.