Modern Consensus is coining a new phrase: ETF Slop.™ And Morgan Stanley is the latest to add its thumb to the scale. This morning, the giant bank announced the launch of Morgan Stanley Bitcoin Trust, an exchange-traded product that seeks to track bitcoin performance. It’s doing so through its subsidiary Morgan Stanley Investment Management, the first U.S. bank-affiliated asset manager that offers cryptocurrency what they’re calling ETP for exchange-traded product. While there’s hardly a shortage of instruments to track bitcoin, this kind of endorsement from the bluest of blue chip banks only adds to the sense that bitcoin has matured into an asset for grown-ups. “ETPs remain a powerful way…
Blockchain and Cryptocurrency: People, Culture and Tech