MSCI adopted rules that bar non-operating companies from its global indexes, putting Strategy and Metaplanet at risk after the Nov. 30 close. The final list is due Nov. 11, and any selling by index-tracking funds depends on who is on it.
Perspective Coverage
12 publishers
- Builder
- Builder 5%
- Operator
- Operator 24%
- Investor
- Investor 71%
Reality
- Evidence72
- Adoption40
- Hype gap+25
- Incentives55
- Confidence74
DeFi Development Corp. raised the dividend on its CHAD preferred from 13% to 14% effective Nov. 2, on a $10 stated amount. A full $300 million of new issuance would add $42 million to $52.5 million a year in dividends, depending on the sale price.
Reality
- Evidence58
- Adoption15
- Hype gap+20
- Incentives72
- Confidence68
Strategy spent $176.3 million repurchasing STRC preferred stock in the week to Oct 4, against $28.7 million for 334 bitcoin. The shares cost about $99.60 each, and retiring them cuts roughly $21 million a year of 12% dividends.
Reality
- Evidence70
- Adoption
- Not scored
- Hype gap+15
- Incentives55
- Confidence68
MSCI's neutral-sounding screen still ejects Strategy, and the premium now sits with a committee
MSCI dropped its crypto-specific exclusion test, but the replacement simulation still deleted Strategy, Metaplanet and Yellow Cake from ACWI IMI. Feedback closes end-September, results mid-October.
Reality
- Evidence48
- Adoption18
- Hype gap+18
- Incentives68
- Confidence45
MSCI puts a date on treasury-company selling: October 16 decision, November 2026 review
A revived MSCI consultation names Strategy and Metaplanet as deletions if its "non-operating companies" screen passes. Comments close September 30, with a decision due around October 16.
Reality
- Evidence40
- Adoption20
- Hype gap+32
- Incentives58
- Confidence42