MSCI Indexes to Remove Crypto Firms Under New Operating Asset Rules
MSCI's adoption of stricter 'non-operating company' criteria could lead to the exclusion of several crypto firms from its indexes.
MSCI's adoption of stricter 'non-operating company' criteria could lead to the exclusion of several crypto firms from its indexes. This is an original TLT brief based on reporting by Unchained, with live market data added, as of Fri, 16 Oct 2026 13:00:04 UTC.
The new MSCI rules could significantly impact institutional investment in crypto companies by restricting their presence in major global indexes, potentially affecting market valuations and investor sentiment.
- MSCI's new 'non-operating company' rules target crypto treasury firms.
- Strategy, Metaplanet, and Upexi face potential MSCI index removal.
- The changes could reduce institutional exposure to crypto assets.
- MSCI's New Rules May Exclude Bitcoin Treasury Companies from Key Indexes
- MSCI Indexes to Remove Crypto Firms Under New Operating Asset Rules — this brief
MSCI, a leading provider of critical decision support tools and services for the global investment community, has adopted new rules that could lead to the exclusion of several crypto firms from its indexes. The new criteria, which include a five-ratio screen for operating assets, are designed to identify 'non-operating companies'.
According to Unchained, companies like Strategy, Metaplanet, and Upexi are currently marked for potential removal from MSCI indexes in November. Protos adds that a powerful committee has been instrumental in adopting these 'non-operating company' rules, which could specifically affect Strategy's position in the prestigious MSCI World Index.
The decision by MSCI to implement these stricter rules reflects a broader trend of institutional caution towards crypto assets. The new criteria could significantly impact the market valuations of affected companies and potentially reduce institutional exposure to the crypto sector.
This development comes amid a broader market context where the total crypto market cap stands at $2.84 trillion, with the overall market showing a positive trend. 
Bitcoin has seen a 24-hour increase of 2.03%, and the Fear & Greed index is at 63, indicating a state of 'Greed' among investors.
The potential exclusion of crypto firms from MSCI indexes could lead to a reevaluation of investment strategies by institutional investors. It remains to be seen how these companies will respond to the new criteria and whether they will take steps to comply or seek alternative avenues for maintaining their market presence.
MSCI Indexes to Remove Crypto Firms Under New Operating Asse — questions & answers
What are the new MSCI rules about?
The new rules introduce a five-ratio screen to identify 'non-operating companies' for potential exclusion from MSCI indexes.
Which crypto firms are at risk of being removed?
Strategy, Metaplanet, and Upexi are identified as companies that could be removed from MSCI indexes in November.
Why does this matter for the crypto market?
The changes could reduce institutional investment in crypto firms, impacting their market valuations and the overall sector.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Unchained. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.