Morgan Stanley's Bitcoin ETF Launch Highlights Market Potential

According to Odaily, Bitwise advisor Jeff Park shared his insights on the launch of a Bitcoin ETF by Morgan Stanley, emphasizing its significance. Park noted that despite the dominance of initial Bitcoin spot ETFs in liquidity over the past two years, Morgan Stanley's decision to introduce its own branded product indicates a positive assessment of market size and new client demand through its internal wealth management channels. Park further explained that Bitcoin ETFs serve not only as financial products for asset management firms but also as symbols of brand and social significance. They can be used to reach specific client groups, such as ultra-high-net-worth independent investors. He also suggested that this move could be seen as a defensive strategy to retain platform distribution rights and fees, allowing the firm to maintain client relationships through proprietary products rather than ceding distribution profits to third parties. In this context, Park expressed optimism about the strategic positioning of Bitwise and Morgan Stanley.