Bitcoin Welcomes Morgan Stanley

Disclaimer: Your capital is at risk. This is not investment advice.

ByteFolio Issue 203;

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This issue covers Quantum Computing, Helium (HNT), and Stablecoins.

Bitcoin’s ByteTrend Score drops to a 1. The price just made a 20-day low and dropped below its 30-day moving average, which is a setback. On the positive side, there is still no new low, despite the volatile backdrop of the war in Iran.

Bitcoin

Bitcoin in Nasdaq is important here. Tech has had a 12% correction since October, while Bitcoin has fallen by 45% and 50% at its low.

Bitcoin in Nasdaq

However, since hostilities began at the end of February, Bitcoin has served as a safe haven amid turbulent times. The bull scenario needs to see Bitcoin leadership over tech. Note that the chart begins at the Bitcoin low.

Bitcoin in Nasdaq – since the Bitcoin Low

This may not seem much, but if this turns out to be the cycle low, Bitcoin is in quite a good place. In the last cycle, it lagged the Nasdaq by 70%, which is disastrous. This time would be 50%, which is a step change.

Bitcoin in Nasdaq – since the 2021 High

Outperformance leads to confidence, which leads to flows. The Bitcoin ETFs have held up well despite the correction.

In other big news, Morgan Stanley has joined the Bitcoin ETF rush, launching MSBT perhaps as early as next week. That’s the first major investment bank with a broad reach in the financial world to launch an ETF. The others have been asset managers, and this is a mega bank that acts for the big money.

Morgan Stanley has a massive wealth management network with 16,000 financial advisors overseeing $6.2 trillion. Many high-net-worth clients already allocate to crypto, as the firm has recommended 2–4% portfolio exposure in the past, but they often go to competitor ETFs. By offering a proprietary product, advisors can recommend MSBT directly without sending assets and associated fees to rivals. This keeps client relationships, trading activity, and revenue in-house.

The ETF is priced at a 0.14% annual fee, the lowest among U.S. spot Bitcoin ETFs. They have also filed for a Solana ETF and are exploring staked Ethereum products.

Bitcoin keeps moving forward, and the big money is yet to come.

Bitcoin Welcomes Morgan Stanley