MSCI Drops Strategy as Bitcoin Access Expands Elsewhere
MSCI has removed Strategy and Metaplanet from its USA standard and Japan small-cap indexes respectively, scheduled for November 30, 2026, amid expanding Bitcoin access elsewhere.
MSCI's November 11 review lists Strategy A for removal from its USA standard index and Metaplanet from its Japan small-cap index. The changes will take effect at the close of business on November 30, 2026. The index provider's decision follows new eligibility criteria for companies classified as non-operating companies, announced on October 15.
Strategy had already warned investors about the potential exclusion in its September-quarter Form 10-Q filing. The company faces challenges to its access to capital as index-tracking investors may sell its common stock or reduce purchases following the removal.
Exclusion could prompt index-tracking investors to sell its common stock or buy less than they otherwise would, potentially hurting liquidity, share prices and its ability to raise money.
Fidelity Increases Treasury Holdings
FMR LLC's latest Form 13F, filed November 10, reports larger common-stock positions in Strategy and Strive than its previous filing. Fidelity now holds 1,022,050 Strategy Class A shares, up from 439,718 at June 30—a net increase of 582,332 shares or about 132.4%, valued at $156.5 million at quarter-end.
The firm's Strive Class A position rose from 9,887,332 to 12,245,949 shares, a net increase of 2,358,617 shares valued at $360.2 million. These reported securities positions do not indicate Fidelity buying Bitcoin for its own corporate treasury or disclose prices paid for each trade.
Deutsche Bank Launches Custody Service
Deutsche Bank has launched its digital-asset custody service for paying clients, Reuters reported on November 11. The service, announced in September, supports Bitcoin, Ether and selected stablecoins for eligible institutional and corporate clients in Europe.
The bank will manage wallets and private keys for clients, allowing them to hold and transfer supported assets without operating their own custody infrastructure. However, Deutsche Bank warned that crypto-assets lack deposit-guarantee protection comparable to eligible bank deposits and remain exposed to material risks.
Russia Sets Conditions for Crypto Trading
The Bank of Russia announced on November 11 that exchanges may begin cryptocurrency trading from November 22, provided the regulator approves their trading rules. The ordinance establishes requirements for organized trading in digital currencies, including registration of trading participants and transaction monitoring.
November 22 represents the earliest authorized date under the announced conditions, though the statement does not confirm any specific exchange will launch Bitcoin trading that day or identify initial trading volumes. Meanwhile, El Salvador's official Bitcoin Office dashboard showed 7,832.37 BTC valued at about $577.5 million on November 11, with increases attributed to private donations according to IMF staff.
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