According to BlockBeats, on January 8, Bitwise advisor Jeff Park stated that Morgan Stanley's recent announcement of launching a spot Bitcoin ETF, even if not hugely successful, will provide 'intangible benefits' to the firm, enhancing its influence. The introduction of a Bitcoin spot ETF is expected to offer reputational advantages, showcasing the asset management company's forward-thinking, youthful, and slightly avant-garde nature. It is also likely to attract top talent in the crypto sector, send a stronger signal to the market than anticipated, and reach new customer bases.
Morningstar ETF analyst Bryan Armour added that Morgan Stanley's sudden entry into the cryptocurrency space might indicate its intention to 'shift clients investing in Bitcoin to its ETF, allowing for a quick start even if entering late.'
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 ventured into cryptocurrency investments, neither has launched its own cryptocurrency ETF.
