The rise of Bitcoin spot ETFs has been faster than expected. As of now, the total assets under management in the market have surpassed $123.5 billion, with a net inflow of $35.2 billion in 2024 alone — a figure that clearly demonstrates how resolute institutional attitudes are.

The most interesting development is Morgan Stanley's move. As a veteran Wall Street firm, they are no longer on the sidelines but have directly submitted applications for spot Bitcoin and Solana ETFs to U.S. regulators, becoming one of the first major U.S. banks to do so. The message behind this is very clear: crypto assets are moving from the fringe to the mainstream.

Looking at the existing giants helps explain why. BlackRock's iBIT has already reached $70.6 billion, and Fidelity's FBTC has accumulated $17.7 billion. These numbers are not just made up — they represent the actual allocation needs of pension funds, institutions, and high-net-worth clients. Bitcoin is no longer just a toy for geeks; through these regulated products, it has officially integrated into traditional financial retirement plans.