MSCI will delete Strategy from the MSCI USA Index and its broad US market indexes after the Nov. 30 close, and drop Metaplanet from a Japan small-cap index.
Key Facts
MSCI's November 2026 index review deletes Strategy from the MSCI USA Index, the MSCI US Prime Market 750 Index and the MSCI US Investable Market 2500 Index.
Strategy does not appear among additions to MSCI's small-cap lists, and Metaplanet is deleted from the MSCI Japan Small Cap Index.
The changes take effect as of the close on Nov. 30, and MSCI said results may still be updated for corporate events before then.
MSCI will remove Bitcoin (BTC) treasury company Strategy from the MSCI USA Index and from its broad US market indexes, according to the results of its November 2026 index review.
Strategy is listed among 24 deletions from the MSCI USA Index, and among deletions from the MSCI US Prime Market 750 Index and the MSCI US Investable Market 2500 Index. It does not appear among additions to MSCI's small-cap lists.
"All changes will be implemented as of the close of November 30, 2026," MSCI said in its index review announcement. It published the full lists on its website.
MSCI will remove Strategy from its US indexes as of the Nov. 30 close. Source: Strategy
What the Lists Show
The US equity list, dated Nov. 11, shows Strategy among eight deletions from the Prime Market 750 Index, alongside companies including American Airlines and Joby Aviation. MSCI's global standard list shows Moderna as the only addition to the MSCI USA Index, a widely tracked benchmark index.
Bitcoin miner and AI cloud provider IREN, which reported a 58% drop in mining revenue last week, is also among the MSCI USA deletions. In Japan, MSCI's small-cap list deletes Metaplanet from its Japan Small Cap Index.
MSCI said results reflect data as of an Oct. 20 price cutoff and may be updated for corporate events or other adjustments before the rebalancing takes effect. The lists do not give reasons for individual deletions.
MSCI's Non-Operating Company Screen
In October, MSCI finalized a "non-operating company" screen that MSCI's August simulation had flagged against Strategy and Metaplanet, with deletions possible at the Nov. 11 review.
MSCI's review documents do not say whether the screen drove Strategy's deletion. Strategy had called the screening test "discriminatory" in its formal response.
Strategy, which holds Bitcoin as a corporate treasury asset, said on Nov. 9 that its holdings had passed 850,000 BTC. BTC traded at $71,646 at press time, down 3.6% over 24 hours, according to CoinMarketCap data.
This article contains links to third-party websites or other content for information purposes only ("Third-Party Sites"). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author's [company's] own and do not necessarily reflect those of CoinMarketCap.
