Morgan Stanley applies to obtain Bitcoin ETF exposure for 12 funds

According to U.Today, American multinational investment bank Morgan Stanley has submitted documents to the U.S. Securities and Exchange Commission (SEC) to obtain Bitcoin ETF exposure for its 12 funds. These funds include Advantage, Asia Opportunity, Counterpoint Global, Developing Opportunity, Global Insight, Global Opportunity, Global Permanence, Growth, Inception, International Advantage, International Opportunity, and Permanence Portfolios. These funds may indirectly gain investment exposure to the largest cryptocurrency by investing in Bitcoin ETFs. The amount invested in Bitcoin ETFs will be subject to "certain restrictions." Morgan Stanley added that the risks of investing in spot Bitcoin ETFs are comparable to those of investing directly in the underlying cryptocurrency. Despite the sharp drop in Bitcoin ETF liquidity, well-known brokerage firm Bernstein remains bullish on the largest cryptocurrency, sticking to its highly optimistic $150,000 Bitcoin price target, which the company expects to be achieved next year.