#分享美股交易赢英伟达股票 Morgan Stanley opens a new gateway for crypto ETPs, and Securitize is also rushing towards a listing

Morgan Stanley announced on June 5th that it has established a new referral arrangement with Galaxy, allowing eligible clients to lend digital assets such as Bitcoin, Ethereum, Solana, and others to Galaxy, and after physical conversion, receive spot crypto ETP shares, including the Morgan Stanley Bitcoin Trust.
     This news is worth noting, not because there’s another “buy crypto” entry point, but because traditional wealth management channels are beginning to integrate digital assets more smoothly into familiar product structures. According to Morgan Stanley’s official statement, in some scenarios, the related processes can shorten account opening and conversion times by up to 75%, and the minimum trading threshold has been lowered from $25 million to $5 million. However, this arrangement is targeted at qualified clients and is not a full open to ordinary retail users.
     On the same day, Securitize and Cantor Equity Partners II also made further progress with a joint announcement. The announcement states that the SEC has declared the relevant S-4 registration statement effective, and CEPT shareholders will vote on June 29; if the deal passes, the merged company is expected to be listed on the NYSE under the ticker SECZ, under the name Securitize Corp.
     Looking at these two developments together, today’s more noteworthy aspect isn’t whether crypto prices have bottomed out, but rather that Wall Street and tokenization infrastructure companies continue to build “layers of packaging” for digital assets. One line is happening at the wealth management entry point, and the other at the connection between on-chain securities infrastructure and the public markets.
     The problem is, the market has not warmed up in tandem. Reuters reports that AI stocks and the upcoming mega IPOs are still absorbing risk appetite, and Bitcoin’s performance this year remains among the weakest in at least a decade. Meanwhile, according to The Block, although the net outflows from spot BTC and ETH ETFs have ended, the total daily net inflow is only about $22.4 million, closer to a pause rather than a clear reversal.
     The Block also cites data from Block Scholes, indicating that the daily trading volume of Nasdaq-100, S&P 500, and WTI perpetual contracts on Hyperliquid totals about $1.3 billion. This detail suggests that part of the trading interest has not returned to mainstream spot cryptocurrencies but is flowing more into on-chain derivatives that are closer to traditional asset mappings.
     Therefore, today’s Web3 looks more like a fractured cross-section. On one side, institutions continue to integrate crypto assets into ETPs, public markets, and tokenized securities structures; on the other side, market funds remain hesitant, even being drawn away by AI narratives and large IPOs. For the industry, the interface layer is still thickening, but risk appetite has not been collectively restored. $US30500