Eric Balchunas, senior ETF analyst at Bloomberg, stated on the X platform that while the market is focused on the listing of the Morgan Stanley Bitcoin ETF (MSBT), another Bitcoin exchange-traded fund (ETF), the Bitcoin After Dark ETF (NGHT), also launched this Wednesday. The NGHT's first-day trading performance was lackluster, but trading volume increased significantly on the second day, and its future performance remains to be seen. For long-term ETF holders, holding products like MSBT can already yield good returns. However, if NGHT experiences strong subsequent inflows, it may gain market acceptance; otherwise, it could quickly become marginalized. The Morgan Stanley Bitcoin ETF, with its advantageous distribution channels, is expected to achieve significant success.