A significant shift is underway in the cryptocurrency investment landscape as MSCI, a globally recognized index provider, has revealed new rules that could impact the inclusion of companies in its indices. The changes are particularly relevant for firms involved in Bitcoin treasury management, such as Strategy and Metaplanet, both of which have been flagged as potential candidates for removal from the MSCI Global Investment Grade Market Indices.

These new regulations, set to take effect after the market closes on November 30, 2026, will assess the operational status of companies primarily holding investment assets instead of engaging in commercial activities. The review comes during MSCI’s scheduled index changes in November 2026.

Criteria for Evaluation

Under the new guidelines, companies like Strategy—which has a substantial Bitcoin stake—will be scrutinized to determine whether they possess significant operating assets. The evaluation process will occur in two stages. Initially, companies will be screened for operational assets. Failing this will prompt a second examination based on five specific financial ratios, regardless of the industry sector.

To remain listed in the indices, companies must meet various thresholds in at least four of these five indicators. Moreover, both of the last two financial reporting periods must satisfy these conditions for a company to avoid delisting.

Upcoming Announcements

MSCI plans to disclose the final list of affected companies, including Strategy and Metaplanet, on November 11, 2026. The implications of this decision could be significant for index-tracking funds that may need to adjust their portfolios if these companies are removed.

Investors should closely monitor these developments as they could reshape the future of cryptocurrency investments in major indices.

Note: This is not investment advice.