Morgan Stanley is embedding cryptocurrency operations throughout the firm and has launched the Morgan Stanley Bitcoin Trust. Bitcoin above $68,000 on April 16 sits at 99.9% YES.

The Bitcoin Trust saw $34 million in day-one inflows. The April 16 market holds at 99.9% YES, consistent with Morgan Stanley’s move into crypto custody and trading.

While the trust launch is a clear endorsement from a top-tier bank, the April 30 market assessing Bitcoin dipping to $60,000 sees minimal direct impact. Traders treat the institutional interest as a stabilizing factor, with decreased odds of a significant price drop.

The Bitcoin above $68,000 market is trading $1.2M/day. It takes $301K to move the price 5 percentage points,…