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Why is Morgan Stanley's move underestimated? Industry consultant Jeff Park pointed out that many people haven't fully grasped the true significance of the upcoming Bitcoin ETF launch.
On the surface, it just adds another Bitcoin product from a major bank, but the key point is—institutional demand has not been fully met. As a top global investment bank, Morgan Stanley's official entry will open a new influx of capital. This is not just about launching a product; it signifies a qualitative leap in traditional finance's acceptance of Bitcoin.
The real story is: although the Bitcoin market appears to be mature, institutional-level allocation channels are still quite limited. Each new ETF product from a leading financial institution means more funds that are unwilling to hold coins directly but eager for exposure can enter the market. Once these suppressed demands are released, it will be a long-term positive for the entire market.
Therefore, this move is not just a cherry on top, but a true opening of a new demand window.