Strategy faces potential removal from MSCI indices, with related index funds holding nearly $1.8 billion in MSTR, according to market analyst Murphy. Murphy said MSCI approved new exclusion rules on October 15 and had already placed Strategy on a proposed removal list through a simulated screening. Murphy said final results will be announced on November 11 and take effect on November 30. Related index funds hold approximately 13 million MSTR shares, equivalent to 60% of MSTR's 30-day average daily trading volume, according to Murphy.