MSCI Sets November 11 List That Could Remove Strategy (MSTR) From Global Indexes
Key Takeaways
- •MSCI has scheduled November 11 for the release of its latest index list, which a COINOTAG report published on October 16 says could result in Strategy (MSTR) being removed from the provider's global indexes.
- •Strategy's current Nasdaq 100 membership carries a two-filing buffer, meaning a shortfall on operating assets would not put the company on a deletion list until the following year's annual report at the earliest.
- •Exchange-traded funds and other passive vehicles tracking MSCI benchmarks generally hold the shares of constituent companies, so removal from an index generally causes a stock to exit those portfolios.
- •Strategy, which rebranded from MicroStrategy in February 2025, adopted bitcoin as its primary treasury reserve in August 2020 and is the largest corporate holder of the asset.
- •Strategy's shares joined the Nasdaq 100 in December 2024, and the company's value is tied overwhelmingly to its bitcoin balance sheet rather than to a conventional operating business.
MSCI has set November 11 as the date for the release of its latest index list, one that could result in Strategy (MSTR) being removed from the index provider's global indexes, according to a COINOTAG report published on October 16. The release will show whether Strategy actually appears on the deletion list, making it the immediate checkpoint for anyone tracking the question.
Update (02:37 UTC): One structural wrinkle softens the near-term impact for Strategy. Because the company currently sits in the Nasdaq 100, its two-filing buffer means a shortfall on operating assets would not place it on a deletion list until the following year's annual report at the earliest.
Index providers such as MSCI periodically reassess whether constituents continue to meet eligibility criteria tied to their business profile and asset composition. Membership in MSCI's global indexes, which serve as benchmarks for a wide range of institutional portfolios, matters because exchange-traded funds and other passive vehicles that track these benchmarks generally hold the shares of constituent companies in their portfolios. Removal works the same way in reverse: a stock that drops from an index generally exits the holdings of funds that passively track it, which is why eligibility decisions draw close attention from market participants.
Strategy, the company formerly known as MicroStrategy, rebranded in February 2025 and is the largest corporate holder of bitcoin, having adopted the asset as its primary treasury reserve in August 2020. Its shares were added to the Nasdaq 100 in December 2024. The value of the company is tied overwhelmingly to its bitcoin balance sheet rather than to a conventional operating business — a profile that has drawn scrutiny from index committees.
Under the buffer described in the report, even if Strategy were to fall short of MSCI's operating-asset requirements, the earliest it could appear on a deletion list would be linked to the following year's annual report.
This content was first published on COINOTAG: MSCI Sets November 11 List That Could Remove Strategy (MSTR) From Global Indexes
