MSCI confirmed on November 11 that it will remove Strategy (MSTR) from the MSCI USA Index after the market close on November 30, and remove Japan’s Metaplanet from the MSCI Japan Small Cap Index (The Block, November 11). The changes apply MSCI’s new rules for non-operating companies, finalized in October. Strategy has failed the operating-asset screening for two consecutive years. As of November 8, Strategy held 850,364 bitcoins. JPMorgan had previously estimated that passive selling by MSCI index funds alone could total about $2.8 billion, rising to $8.8 billion if other index providers follow suit. After the announcement, MSTR fell about 2.6% in after-hours trading to $119.06. MSCI said the changes would not affect Strategy’s bitcoin holdings or require the company to sell any bitcoin.$BTC $ETH