Strategy retirée des indices MSCI : 2,8 milliards de dollars de sorties potentielles

bloomingbit · 2026-11-12T02:50:45.000Z

MSCI Inc. a décidé de retirer Strategy, la plus grande entreprise détentrice de bitcoins au monde, de ses principaux indices. Reuters a rapporté le 12 novembre que MSCI avait classé Strategy et plusieurs autres entreprises parmi les entités présentant des caractéristiques similaires à celles des fonds d’investissement. Le fournisseur d’indices a indiqué qu’elles seraient retirées de l’indice MSCI USA et de l’indice MSCI World à compter du 1er décembre. Le rééquilibrage aura lieu le 30 novembre. MSCI avait précédemment proposé d’exclure les entreprises dont les actifs numériques représentent plus de 50 % du total des actifs. L’examen a ensuite été élargi afin de couvrir plus généralement les sociétés non opérationnelles, en mettant l’accent sur celles dont l’activité est centrée sur la détention d’actifs plutôt que sur des activités commerciales substantielles.

MSCI Inc. has decided to remove Strategy, the world’s largest corporate holder of Bitcoin, from its major indexes.
Reuters reported on November 12 that MSCI had classified Strategy and several other companies as entities with characteristics similar to investment funds. The index provider said they will be removed from the MSCI USA Index and the MSCI World Index effective December 1. The rebalancing will take place on November 30.
MSCI had previously proposed excluding companies that hold more than 50% of their total assets in digital assets. It later expanded the review to cover non-operating companies more broadly, focusing on firms centered on asset holdings rather than substantive business operations.
The decision could curb institutional inflows into Strategy because passive funds that track MSCI indexes may have to sell the stock.
Index-tracking funds often generate stock trades worth billions of dollars when they change constituents. JPMorgan previously said Strategy’s removal from MSCI indexes could trigger as much as $2.8 billion of selling. The bank also said selling pressure could reach as much as $8.8 billion if other major equity indexes also remove the company.
The exclusion list also includes Japan’s Metaplanet, a corporate Bitcoin holder, and Yellow Cake, a U.K. uranium investment company. SharpLink, an Ethereum treasury company, was placed on a watch list for possible future exclusion.
On the news, Strategy shares fell 2.5% in after-hours U.S. trading on November 11.