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Anyone knows what MSCI World will do?

Same question. It seems like they have had fast track rules for a pretty long time and will include SpaceX

So the funds will have to buy within 10 days of the IPO.

But I assume at least it's based on the free-float market cap?

Yes, it's based on free-float cap, so while it isn't ideal, it shouldn't be a huge deal for individual investors.