# MSCI Adopts New Index Exclusion Rules for Non-Operating Firms

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/33093
Published: 2026-10-16T06:38:39.000Z
Updated: 2026-10-16T06:38:39.000Z
Section: Investing

> The rules take effect after the Nov. 30, 2026, close, and MSCI will identify affected companies on Nov. 11.

MSCI has adopted new index exclusion rules for non-operating companies, putting eligibility under review for crypto firms with large digital-asset holdings ahead of the November 2026 index review.

Companies will first be screened for substantial operating assets. Those that fail will then face five financial-ratio tests; a company will be ineligible if it meets at least four exclusion thresholds. An existing index constituent will be removed only if it fails the initial screen in both of its two most recent annual reporting periods. MSCI may also use the latest interim financial statements in its assessment.

The final affected-company list is scheduled for Nov. 11, with the rules taking effect after the Nov. 30 close. MSCI will also end temporary index adjustment restrictions for firms whose digital-asset holdings make up at least 50% of total assets. The restrictions included freezes on share counts used in index calculations, limits on increases to investability factors, and pauses on new additions and market-cap classification adjustments. The change puts crypto-heavy firms under the same eligibility framework as other companies.