Key facts
- MSCI said it will remove Strategy and other companies from its global indexes after finding they resemble investment funds.
- MSCI last year proposed excluding digital asset treasury companies whose holdings are 50% or more of total assets.
- MSCI then launched a broader review into what it called non-operating companies, which it says have fund-type characteristics.
- Strategy shares fell 0.8% in extended trading on Wednesday, per the report.
- Strategy shares are down around 20% this year, while bitcoin prices are down 15%, per the report.
Index operator MSCI will remove Michael Saylor's Strategy and other companies from its global indexes after determining they more closely resemble investment funds, a move that could curb passive investment flows into the stocks, Reuters reported on November 11, 2026.
MSCI last year proposed to exclude digital asset treasury companies whose holdings represent 50% or more of their total assets, and then launched a broader review into what it called "non-operating companies". Such companies have fund type characteristics, which are excluded from its benchmarks, MSCI said.
Strategy's shares fell 0.8% in extended trading on Wednesday. They have slid around 20% this year, while bitcoin prices are down 15%, according to the report.