MSCI schedules Strategy and Metaplanet index removals for the 30 November close

MSCI's 11 November review lists Strategy for deletion from its USA Index and Metaplanet from its Japan Small Cap Index. The changes take effect at the 30 November close. Index removal changes benchmark membership; it does not delist the companies' shares from their stock exchanges.

The published standard-index list includes Strategy A among the USA deletions. The separate small-cap list places Metaplanet in Japan's deletion column. These are confirmed review results rather than the earlier possibility that crypto treasury companies might become ineligible. Investors following the debate now have an implementation date to distinguish from the announcement date.

The review arrives alongside MSCI's final implementation of its non-operating-company methodology. That framework first screens operating assets, then applies five financial ratios to issuers that fail the initial screen. Four flagged ratios make a security ineligible; existing constituents face removal after failing the screen in both of their two most recent annual filing periods. The review lists do not supply a company-specific explanation for each deletion.

Benchmark-tracking funds may need to adjust holdings to reflect the new constituents, which is why an index decision matters beyond a label on a website. That is different from saying every shareholder must sell, or that either treasury must sell Bitcoin. The documents establish scheduled changes to the equity benchmarks, not a measured total of completed fund outflows or a guaranteed effect on the Bitcoin price.