MSCI approves rules that could eject Strategy, Metaplanet from equity indexes
Source: CoinDesk ·
From the source
The rules proposed in August would see companies that exist mainly to hold investments as no longer eligible for index inclusion. MSCI, one of the world's biggest stock index providers, finalized rules proposed in August that could remove shares of leading bitcoin BTC $82,071.33 -holding companies Strategy MSTR and Metaplanet (3350) from its global equity indexes. Under the rules announced Thursday , companies that mostly hold investments rather than running a real business will be deemed ineligible for MSCI's Global Investable Market Indexes. The final list of affected firms is due Nov. 11 and the change takes effect at the close of Nov. 30. The decision is important because it affects demand for the companies’ shares. Many investors gain exposure to stock markets by placing their money in funds that track an index. When a company is added to the index, those funds must buy its stock. When it is removed, they must sell, whatever the fund managers think of the company. "The MSCI…