Bitwise Advisor interprets Morgan Stanley's launch of Bitcoin ETF: positive for Bitcoin, the market still has a large unmet demand

On January 7th, Bitwise advisor Jeff Park posted on social media stating, “Here is a point that most people overlook, which is why Morgan Stanley’s launch of a Bitcoin ETF is an ‘epic positive’ for Bitcoin: · This means the market size far exceeds the expectations of crypto professionals, especially in attracting new customers. Although IBIT has become the fastest ETF in history to reach $80 billion in AUM, Morgan Stanley still believes there is a large unmet genuine demand in the market. This sends a strong signal: we are still in the very early stages. · This means that Bitcoin is not only economically significant for clients but also socially important. Morgan Stanley is betting that even if this ETF does not ultimately become a ‘phenomenal hit,’ the intangible brand value it brings will greatly enhance its influence. · Essentially, this is a defensive move to counteract platform disintermediation and fee outflows. Despite IBIT already having highly concentrated liquidity, Morgan Stanley still chooses to launch its own Bitcoin ETF, which essentially admits a fact: the party that controls the distribution channels truly owns the customers, rather than whether the product itself is ‘better’.”