MSCI to Remove Strategy and Metaplanet From Indexes, Potential MSTR Outflows Could Reach $8.8B According to Reuters, MSCI will remove Strategy (MSTR), Japan's Bitcoin treasury firm Metaplanet, and UK-based uranium investment company Yellow Cake from its global indexes, effective December 1, under its new non-operating companies methodology. MSCI determined that these companies more closely resemble investment funds than operating businesses. Strategy previously warned that exclusion could trigger approximately $2.8 billion in stock sales. JPMorgan earlier estimated that outflows from Strategy shares could reach $8.8 billion if other index providers followed suit. MSTR fell 2.5% in after-hours trading following the announcement. Ethereum treasury firm SharpLink (SBET) was also placed on MSCI's watchlist.