MSCI’s new consultation may remove MicroStrategy and other non-operating asset holders from its Global Investable Market Indexes by 2026.
MSCI has launched a consultation to exclude companies holding non-operating assets, such as Bitcoin or Ethereum, from its Global Investable Market Indexes. The proposal targets firms generating minimal cash from operations and relying on external capital, using May 2026 data for simulation.
MicroStrategy (MSTR), Metaplanet (3350.T), and SharpLink (SBET) face potential removal or watchlist placement. MicroStrategy holds 840,447 BTC, while SharpLink holds 888,521 ETH. The new framework assesses operating assets below 20% of total assets and operating expenses under 5% of revenue.
The rule change could impact index-tracking funds and investor access to these companies, though no immediate market reaction was reported.