MSCI will adopt new non-operating company rules that could exclude Strategy and other crypto treasury firms from MSCI's indexes. The methodology takes effect with the November index review and replaces interim restrictions targeting companies whose digital asset holdings represent at least 50% of total assets. MSCI will publish the final list of potentially affected companies on Nov. 11. Strategy said in a September letter that adopting the proposal would have no meaningful impact on Strategy's business but would profoundly harm MSCI's reputation as a reliable and neutral index provider.