Morgan Stanley’s move to launch its own Bitcoin (CRYPTO: BTC) ETF is one of the most bullish developments for crypto and points to significant untapped demand and shifting institutional dynamics, according to Bitwise advisor Jeff Park.

What Happened: Park on Wednesday outlined three reasons for reinforcing his highly bullish view of Morgan Stanley launching own BTC ETF.

Firstly, the launch signals that Bitcoin adoption is still early, according to Park.

Despite BlackRock’s (NASDAQ:IBIT) already commanding dominant liquidity, Morgan Stanley (NASDAQ:MS) clearly sees enough unmet demand within its wealth management channels to justify introducing a competing product.

Second, the move reflects…

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