Global index provider MSCI signals a major development—temporarily not removing Digital Asset Trust Companies (DATCOs) from major indices. This decision may seem calm on the surface but is actually quite significant.

For the market, this is a strong boost. Imagine if DATCOs were kicked out of the index, all passive funds tracking that index would be forced to reduce their holdings in related stocks, creating a potentially dangerous situation. The chain reaction of passive selling is often more intense than expected. Now, this risk has been temporarily alleviated.

More importantly, remaining within the index is equivalent to gaining access to the traditional financial sector. Institutional investors naturally trust index constituents, which can open the door to mainstream capital markets. Recognized crypto-related companies listed on the exchange will find it easier to raise funds, and market liquidity will improve.

But don’t celebrate too early. MSCI has explicitly stated that they will continue to conduct in-depth research, which means standards may be reshaped. The rules of the game could become more transparent, but at the same time, the entry barriers will rise. Projects that rely on hype and concepts should feel some pressure.

Who will be the ultimate winners in this contest? Not short-term arbitrageurs, but those teams that are truly doing real work and building sustainable business models. Policy recognition is just the beginning; true competitiveness comes from long-term value creation. Rules will change, but solid fundamentals will always be valuable.