As institutional competition for crypto assets intensifies, major financial institutions are expanding their product lines. BlackRock's spot Bitcoin and Ethereum ETFs have accumulated net inflows of $63 billion and $12 billion respectively. Morgan Stanley is seeking approval to launch its Bitcoin ETF. MicroStrategy Chief Executive Officer Phong Le pointed out that if the company allocates just 2% of its $8 trillion in assets under management to a Bitcoin ETF, the ETF's inflows could reach as high as $160 billion, far exceeding BlackRock's current ETF inflows. Meanwhile, MicroStrategy still directly holds 761,068 Bitcoin on its balance sheet.

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