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Opinion: Morgan Stanley's new Bitcoin ETF, whether successful or not, will bring "intangible benefits"
On January 8th, Bitwise advisor Jeff Park stated that Morgan Stanley recently announced the launch of a spot Bitcoin ETF. Even if it doesn’t achieve great success in the end, it will bring “intangible benefits” to Morgan Stanley, helping to enhance its influence. Issuing a Bitcoin spot ETF will provide a reputation advantage, demonstrating that the asset management company is forward-looking, young, and somewhat avant-garde. It also helps attract top talent in the crypto space, signals that the crypto market size is larger than expected, and reaches new customer segments. Morningstar ETF analyst Bryan Armour added that Morgan Stanley’s sudden move into the cryptocurrency field might mean it wants to “shift clients investing in Bitcoin into its ETF so that it can quickly get started even if entering later.” Morgan Stanley, along with Goldman Sachs and JPMorgan Chase, is considered one of the world’s top three investment banks. While Goldman Sachs and JPMorgan Chase have already ventured into cryptocurrency investments, neither has launched its own cryptocurrency ETF.