MSCI Proposal May Exclude Strategy and Metaplanet from Global Indices

MSCI proposes excluding non-operating firms like Strategy and Metaplanet from global indices via a new five-ratio screening process, with results expected in October.

Woofun AI reports that MSCI has initiated consultations to remove 'non-operating companies' from its Global Investable Market Indexes using a two-step screening methodology. The process first checks if operating assets exceed 50% of total assets, then applies five financial ratios to remaining candidates. Under current data, Bitcoin holders Strategy (MSTR) and Metaplanet (3350), along with Yellow Cake, would face exclusion. MSCI defines these entities as those accumulating non-operating assets with limited cash flows and reliance on external financing. Comments are due by September 30, with results expected around October 16; any adjustments would not take effect until the November 2026 index review.