MSCI (formerly Morgan Stanley Capital International) has announced it will not exclude Bitcoin and crypto treasury companies from its indexes. MSCI stated that distinguishing between investment companies and those holding digital assets requires further research, hence the companies and assets will feature in MSCI’s index.

“Distinguishing between investment companies and other companies that hold non-operating assets, such as digital assets, as part of their core operations rather than for investment purposes requires further research and consultation with market participants,” said MSCI in a statement. “For instance, assessing index eligibility across a range of these types of entities may require additional inclusion assessment criteria, such as financial-statement-based or other indicators.”

MSCI’s statement went on to add, “For the time being, the current index treatment of DATCOs identified in the preliminary list published by MSCI of companies whose digital asset holdings represent 50% or more of their total assets will remain unchanged,” MSCI continued.

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The MSCI decision sparked a rally for both Bitcoin and Strategy (MSTR) stock. BTC rallied 1% after facing selling pressure throughout the day, while MSTR closed 6% higher. Michael Saylor’s Strategy is one of the biggest insititutional investors in Bitcoin in the world. With plenty of its treasury dedicated to the digital asset, MSCI’s announcement was a spark for MSTR investors.