Morgan Stanley has an “intangible benefit” up its sleeve even if its spot Bitcoin ETF isn’t a huge success, says ProCap investment chief Jeff Park.
US investment bank Morgan Stanley may be positioning itself so that even if its newly announced spot Bitcoin exchange-traded fund underperforms, it will still deliver strategic benefits across the firm, according to ProCap chief investment officer Jeff Park.
“Morgan Stanley is making the bet that even if their ETF doesn’t scale to blockbuster success, there’s an intangible benefit that will help build their clout,” Park said on Wednesday.
His comments come just a day after Morgan Stanley filed with the US Securities and Exchange Commission to launch two ETFs, one tied to Bitcoin (BTC) and the other to Solana (SOL).
