Morning Edition · Friday, October 16, 2026Published at 1:52 AM EDT · New York
Estimates of forced passive selling in Strategy alone range from about $1.8 billion to $2.8 billion. MSCI will publish its final list of affected companies on November 11.

MSCI, the index provider, has adopted rules that make "non-operating companies" ineligible for its Global Investable Market Indexes. Strategy, the bitcoin treasury company led by Michael Saylor, and Japan's Metaplanet both fall into the aff…
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Bitcoin Treasury Companies Lose Passive Support
Index providers and passive vehicles will keep reclassifying bitcoin treasury companies as investment funds, removing a structural source of demand and pushing these firms to trade closer to the value of their holdings, which slows corporate bitcoin accumulation.
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