Morgan Stanley has filed a second amendment for its own spot Bitcoin ETF, signaling a strategic shift from distributor to issuer. Phong Le, CEO of Strategy, suggests the move could represent a “massive Bitcoin bet,” with potential for significant capital inflows given the bank’s vast wealth management assets.
International investment bank Morgan Stanley has taken another step toward launching its own spot Bitcoin exchange-traded fund. The institution filed a second amendment for the proposed product, signaling growing commitment to digital assets.
This marks a strategic shift for the bank, which historically distributed third-party Bitcoin ETFs. The move positions Morgan Stanley to become a direct issuer, allowing for greater control over product design and client exposure.
Phong Le, CEO of Bitcoin-oriented Strategy, commented on the filing via social media. He called it a “massive Bitcoin bet” and outlined the potential scale.
Le noted that Morgan Stanley Wealth Management oversees about $8 trillion in assets. The institution recommends a 0–4% bitcoin allocation to its clients.
He speculated that a modest 2% allocation would represent $160 billion of inflows. This sum is roughly three times the current size of BlackRock’s IBIT ETF holdings.
The transition reflects a broader trend among traditional financial institutions. Many now seek deeper involvement in digital asset markets beyond simply facilitating access.
