Final Exclusion List for Crypto Treasury Companies
MSCI · Other · November 11, 2026
MSCI publishes the final list of non-operating companies, incl. crypto treasury firms like Strategy, to be removed from its global indexes on Nov 11, 2026.
MSCI, the global index provider behind the MSCI World and ACWI benchmarks, releases the final list of non-operating companies to be excluded from the MSCI Global Investable Market Indexes on November 11, 2026, as part of its November 2026 Index Review announcement. The new methodology, adopted on October 15, 2026, replaces MSCI's temporary measures for companies holding more than 50% of assets in digital assets. Strategy (MSTR), Metaplanet and Upexi are on the preliminary potential-removal list, with SharpLink, DeFi Dev Corp and other digital asset treasury (DAT) companies on the watch list. Exclusions take effect at the close of November 30, 2026, when passive index funds rebalance. Key topics: MSCI index exclusion, Strategy MSTR, bitcoin treasury companies, DAT index risk, passive outflows.