The institutional evolution of Bitcoin is accelerating as innovative products from major brokerage firms are changing the market structure and investor participation. On April 10, the global investment bank Morgan Stanley deepened its strategy in digital assets by launching an exchange-traded fund (ETF) on Bitcoin. This initiative has a threefold impact on the market, affecting pricing, demand formation, and legitimacy across the entire digital asset ecosystem. Rick Edelman, founder of the Council of Financial Professionals for Digital Assets, shared his thoughts on the social platform X on April 10: “The new crypto ETFs from Morgan Stanley (starting with the first, Bitcoin, then ETH and SOL) will have a threefold impact on the market.” He described the first impact related to competitive pricing dynamics, emphasizing that Morgan Stanley’s advantage of a 14 basis point fee is likely to accelerate competitive pressure among issuers. Edelman, widely recognized as a leader in financial planning, is the founder of Edelman Financial Engines and has been listed three times among Barron’s top independent advisors. He stated: “They will attract assets from other crypto ETFs because they are cheaper.”