MSCI approves rule change that may push Strategy out of its indexes

MSCI has finalized a new rulebook that could show Strategy the door. On October 15, 2026, the index provider announced updated eligibility rules for its Global Investable Market Indexes (GIMI). Under the new framework, certain “non-operating companies” are now considered ineligible. Strategy (MSTR) and Metaplanet are among the firms that may be swept out. Because trillions in passive money follow these lists, falling off means a lot of automatic buyers turn into automatic sellers. What MSCI actually changed The new rules replace a set of temporary screens that specifically targeted companies whose digital asset holdings exceeded 50%. The replacement is broader. Instead of zeroing in on crypto, MSCI now asks whether a company actually operates a business or mostly holds assets. A company needs more than 50% of its total assets to be operating in nature to clear the bar. MSCI also runs companies through five specific financial ratios. A firm gets flagged as non-compliant if it fails the operating assets test and also fails to pass four of the five ratios. The new rules kick in starting with the November 2026 index review. The final list of affected companies is expected on November 1...