MSCI Drops Strategy, Metaplanet and Upexi From Its Indexes

The significance is less about any single deletion than about the precedent: MSCI is treating crypto treasury vehicles as non-operating shells rather than index-eligible businesses, a classification that could ripple across other benchmark providers weighing similar rules. The immediate mechanical effect falls on index-tracking funds, which must now unwind positions in these names, with Strategy's disclosed exposure suggesting the largest passive footprint of the three. Whether other index families adopt the same framework, and how these companies' shareholder bases shift as passive ownership recedes, is the open question worth watching.