Bitwise Advisor Jeff Park: Morgan Stanley's Launch of Bitcoin ETF Reflects Strategic Considerations at Distribution and Brand Levels

Odaily News Bitwise advisor Jeff Park shared his perspective on the X platform regarding Morgan Stanley's launch of a Bitcoin ETF, stating that he views this move as highly significant. Jeff Park noted that despite the first batch of spot Bitcoin ETFs having dominated the primary liquidity for two years, Morgan Stanley still chose to launch its own branded product. This reflects the firm's assessment, through its internal wealth management channels, that the market size and demand from new clients still present commercial viability.

Jeff Park further pointed out that for asset management institutions, Bitcoin ETFs are not just financial products; they also carry symbolic significance at the brand and social levels, which can be leveraged to reach specific client segments such as ultra-high-net-worth independent investors. He also believes this move can be seen as a defensive arrangement regarding platform distribution rights and fee retention—that is, by controlling client relationships through proprietary products rather than ceding distribution revenue to third parties. In this context, Jeff Park expressed his optimistic stance on the related strategies of both Bitwise and Morgan Stanley.