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BREAKING: Strategy, Metaplanet lose MSCI index membership in November reshuffle

MSCI confirmed on Wednesday that it will drop Strategy from its stock indexes once trading closes on November 30.

(Funds that track those indexes have to sell whatever MSCI takes out.)

Japan's Metaplanet and Upexi are being removed too, and MSCI put Ether treasury firm Sharplink on a watchlist.

When MSCI set the rules in October, current members only fell out after failing two straight annual filings, which left a chance Strategy would survive this round.

It didn't, and its stock slipped in after-hours trading from a $122.35 close, down about 19% since those rules came out.

Strategy says MSCI-tracking funds hold about 13 million of its shares, which is 3.1% of the company and less than a day's normal trading.

At Wednesday's prices that's roughly $1.6 billion, well under JPMorgan's older $2.8 billion estimate.

BloFin Research says the bigger risk is Strategy's buying model, because losing index demand could squeeze its mNAV premium, already down to about 1.08x from 3.4x in November 2024.

(mNAV compares Strategy's market value with the Bitcoin it holds, and the premium above 1x is what makes selling new shares to buy coins worth doing.)

With the premium that thin, Strategy raised $283.8 million selling stock last week but put only $81.9 million into 1,036 BTC, spending $188.3 million buying back its STRC preferred shares.

10x Research founder Markus Thielen thinks most of this is priced in and doesn't expect it to spill into Bitcoin, since many funds already hold less Strategy than the index calls for.

Leaving MSCI doesn't force Strategy to sell a single coin either.

Strategy goes into December holding 850,364 BTC, with its premium near 1x and one big buyer of its stock gone. 🚀

Rare earth magnets. High-heat alloys. Lithium, nickel and graphite. Every rocket, satellite and humanoid robot Elon Musk builds runs on this short list of materials, and America can't get enough of them.

Much of it is still processed in China, and Washington now calls that a national security problem.

One small company sits on that supply, and it still trades around $5. It doesn't show up on the financial networks, which is exactly why most of Wall Street hasn't connected the dots yet.

Our free report names the company and explains why the timing matters now. We'll text you the ticker too, before the crowd shows up.

Get the $5 Stock Report

Will Clemente thinks the chart Bitcoin holders should be watching this week is the US dollar.

He's one of the most respected on-chain analysts in crypto and co-founder of Reflexivity Research.

Here's what he posted:

The US Dollar Index (which tracks the dollar against a basket of major currencies like the euro and yen) hit 102.96 on Wednesday, its highest level of 2026 and about 7% above its January low.

The weekly chart he'd posted the day before shows the index breaking through its summer highs in late September, sliding back to that line in early November and bouncing straight off it.

Ten days ago in this section, Raoul Pal named three brakes on crypto: the dollar, rates and oil.

Oil has since fallen about 20%, with Brent going from roughly $118 to $93.

The other two haven't let up…

Tuesday's hot inflation print sent Treasury yields jumping and left traders expecting the Fed to hike in December, and now the dollar's broken out as well.

A stronger dollar tightens money everywhere, because it makes dollar debt more expensive for borrowers abroad and pulls cash toward safe US assets, away from riskier bets like crypto.

The last time the dollar really ran, in 2022, the index hit its highest level in 20 years and Bitcoin finished the year down about 64%.

Bitcoin's down almost 8% over the past week, about 41% below its all-time high.

The line to watch is the one on his chart, the old summer highs near 101.5.

While the dollar holds above it, one of crypto's biggest brakes stays on. 💵

Time for a check in on Ethereum's supply side dynamics.

To do that we'll be focusing on the amount of Ethereum currently being staked.

Quick Note: Ethereum staking involves locking up ETH to support the blockchain's security. In return, users earn rewards for staking.

44.54 million ETH is now locked in staking, up from 44.17 million two weeks ago.

About 367,000 ETH went into staking on net, roughly 26,000 ETH a day.

That's three and a half times the 105,000 ETH that came out in last fortnight's dip.

It also takes the total about 258,000 ETH past the 44.28 million it hit a month ago, the previous high of this run.

Across the last seven fortnights, staking has added almost 3 million ETH.

Last fortnight's dip didn't last, and staked ETH is at a new high for this run. 🔒️

Bitcoin Core discloses three patched security flaws, including high-severity mining bug. The worst flaw could stop affected mining nodes from building valid blocks after a chain reorganization, and fixes shipped in October 2025.

Deutsche Bank Goes Live With Crypto Custody After a Five-Year Buildup. Germany's largest lender now holds Bitcoin, Ethereum, USDC, EURC and EURAU for institutional and corporate clients in Europe, managing their private keys.

Barclays boosts BlackRock Bitcoin ETF stake 48% as banks expand holdings. Its IBIT position was worth about $187 million on Sept. 30, and Citigroup disclosed a new $119 million stake in Fidelity's Bitcoin fund.

Kraken's xStocks adds 200 UK and EU shares as its assets top $1.1 billion. The tokens cover all 40 DAX companies but carry no ownership of the firms and remain off-limits to UK and US investors.

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Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

Because what would the crypto world be without its share of memes?

Trivia Answer: Two pizzas for 10,000 BTC 🥳

On May 22, 2010, Laszlo Hanyecz paid 10,000 BTC for two Papa John's pizzas. Fans still mark the date as Bitcoin Pizza Day.

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