Chief Executive Officer of Strategy, Phong Lê, stated that the spot Bitcoin ETF (MSBT) proposed by Morgan Stanley is a "massive Bitcoin gamble". He pointed out that Morgan Stanley is managing an asset block worth 8 trillion dollars.

If allocated at the recommended moderate rate of 2%, it would bring in 160 billion dollars of capital into the market, about three times the size of BlackRock's IBIT. Morgan Stanley's application for a license for its own ETF fund marks their transition from a mere "distribution channel" to a "product issuer".

If approved, it would further deepen the capital attraction effect of traditional investment banks towards cryptocurrency assets.

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