Morgan Stanley, Blockfi Execs do not agree on spot bitcoin ETFs

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Amy Oldenburg Morgan Stanley
  • Head of Emerging Markets Equity at Morgan Stanley Investment Management promotes the self -storage of digital assets
  • The head of the institutional relationship management of Blockfi states the challenges of crypto custody for hedge funds, asset managers and pensions

The Head of Emerging Markets Equity at Morgan Stanley Investment Management is not optimistic about spot bitcoin ETFs and indicates the importance of self-storage of digital assets.

Amy Oldenburg noticed during a panel at the Permission Less event of Blockworks on Thursday in Palm Beach that ETFs that invest directly in Bitcoin are not necessarily a "solution" for greater acceptance in this area.

"If you lived in Russia at the beginning of this year and kept a spot bitcoin ETF, how valuable was that for you? It was no value," she said. "So we have to be able to find solutions with which we can give people access to these underlying assets and enable them to keep them and travel and transferred with them without having a central storage.

The discussion participant Jessica Raybeck, head of institutional relationship management at Blockfi, said that Oldenburg's concerns were justified, but many institutions have no other access point.

"The custody is really difficult for a hedge fund, asset manager or a pension fund," said Raybeck. "But do you know what is pretty easy for you? An ETF or another listed asset."

While spot crypto exchange products are available in places such as Canada, Europe and most recently Australia, the SEC has not yet approved a spot bitcoin ETF in the USA.

raybeck said that institutions still find out Key splinter And wise to deal with the 24/7 nature of cryptoma markets, whereby it should be noted that navigating in the cryptor room can be difficult.

"I think we will develop beyond that? I think yes," she said about Spot-Bitcoin ETFs. "But we really have to accept that it was enormous [Way] where people can gain access to crypto."

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The contribution Morgan Stanley, Blockfi Execs Disagree on Spot Bitcoin ETFs is not a financial advice.