MSCI has officially adopted new rules that classify non-operating companies as ineligible for its Global Investable Market Indexes. The index provider confirmed that these changes will be implemented during the November 2026 Index Review, with the new criteria taking effect after the market close on November 30, 2026.
The policy follows a 2025 proposal to exclude firms whose digital asset holdings account for 50% or more of their total assets. While the decision does not result in the immediate removal of Strategy from the indices, future periodic testing could lead to the company's exclusion based on these updated classification standards.
Strategy, formerly known as MicroStrategy, shifted its business model in 2020 to focus on acquiring bitcoin. The company currently holds 848,250 bitcoins, valued at approximately $69,2 billion. Its stock, traded on the Nasdaq under the ticker MSTR, provides investors with exposure to the performance of the cryptocurrency.
