Source time Edition date
Strategy, Metaplanet lose MSCI index membership in November reshuffle
Strategy、Metaplanet在11月调整中失去MSCI指数成员资格
Strategy and Metaplanet losing MSCI index membership matters for index-tracking funds forced to sell, though Strategy argued exclusion would harm its reputation as a neutral provider.
Judgment
MSCI’s Nov. 30 removal forces index-tracking funds to sell Strategy and Metaplanet; MSCI accepts reputational pushback without company-specific explanations, while Strategy says exclusion won’t meaningfully hit its business but harms MSCI’s neutrality.
Basis
MSCI filings say Strategy will leave the USA Index and Metaplanet the Japan Small Cap Index at the Nov. 30 close. New eligibility rules, adopted last month, assess operating assets and five financial measures and remove firms failing screening for their two most recent annual filing periods; they replace temporary restrictions on firms holding at least half their assets in crypto. MSCI’s review documents gave no company-specific explanations. Saylor and Phong Le called the treatment “discriminatory”; a September letter argued exclusion would have no meaningful impact on Strategy’s business but would harm MSCI’s reputation as a neutral index provider. MSTR fell 2.6% in after-hours trading to $119.06; Metaplanet closed Wednesday down 2.53% at 231 yen in Tokyo, before MSCI announced the removals. Sharplink was not listed among the deletions.
- MSTR after-hours decline2.6%
- Metaplanet close decline2.53%
Unclear The source does not quantify the assets that index-tracking funds must sell or say whether MSCI will revisit the rules.
Next Check MSCI’s Nov. 30 close index files for confirmation that Strategy and Metaplanet are absent from the USA and Japan Small Cap indexes.