MSCI adopted new criteria limiting index inclusion for non-operating companies, putting Strategy (MSTR) and Metaplanet (3350) at risk of removal from its Global Investable Market Indexes starting in December. Both companies were listed as candidates for exclusion, and the changes are set to take effect after the market close on Nov. 30. JPMorgan previously estimated that MSCI-tracking passive funds could sell about $2.8 billion of Strategy shares; broader outflows could reach $8.8 billion if other index providers apply similar rules. This update advances the status from the proposal described in earlier reporting, which had put a final decision around Oct. 16 and implementation from Nov. 30, 2026.