The index provider has opened a consultation on a new classification based on five financial ratios, rather than cryptocurrency holdings, which would identify companies that primarily create value by accumulating non-operating assets and generate little cash from operations. If applied based on May 2026 crypto holdings, this screen would have resulted in the deletion of Nasdaq-listed Strategy (MSTR) and Tokyo-listed Metaplanet (3350) from the MSCI ACWI IMI Index. An earlier, crypto-specific exclusion proposal in October 2025 was deferred. MSCI is inviting feedback until September 30, with results expected on October 16, and any changes to be folded into the November 2026 index review.