The recent decision announced by the global index giant MSCI may seem ordinary but contains hidden implications. They will not temporarily remove Digital Asset Trusts (DATs) from the index, with the review postponed until February 2026.

Why is this worth paying attention to? The core lies in the fact that MSCI indices track a huge amount of passive investment funds worldwide. Once DATs (such as listed companies heavily holding BTC) are kicked out, it means that institutional funds worth hundreds of billions will be passively sold off. The delay in the decision gives the market a breathing space.

What does this imply? First, traditional financial giants have not outright rejected these emerging companies but have chosen to observe. This in itself is a form of implicit approval. Second, postponing the review is not procrastination but a move to develop clear standards. For crypto assets to enter mainstream finance through listed companies, explicit rules are needed. This process is becoming institutionalized.

What is the practical significance for the market? In the short term, it alleviates the risk of sell-offs, and in the long term, it clears obstacles for more traditional companies to include crypto assets on their balance sheets. It is expected that more similar companies will emerge, continuously forming purchasing power.

Interestingly, as traditional finance is setting the rules of the game for crypto assets, the native crypto world is also establishing its own order. Education, community governance, decentralized execution—these new rule systems are colliding and merging with traditional financial rules, expanding the boundaries of the entire ecosystem.