{"id":77841,"date":"2026-05-06T09:08:26","date_gmt":"2026-05-06T02:08:26","guid":{"rendered":"https:\/\/hbbgroup.net\/self-directed-investors-power-bitcoin-etf-launch-despite-morgan-stanleys-scale\/"},"modified":"2026-05-06T11:07:29","modified_gmt":"2026-05-06T04:07:29","slug":"self-directed-investors-power-bitcoin-etf-launch-despite-morgan-stanleys-scale","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/self-directed-investors-power-bitcoin-etf-launch-despite-morgan-stanleys-scale\/","title":{"rendered":"Nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ef1 \u0111\u1ecbnh h\u01b0\u1edbng l\u00e0 \u0111\u1ed9ng l\u1ef1c ch\u00ednh th\u00fac \u0111\u1ea9y s\u1ef1 ra m\u1eaft c\u1ee7a ETF Bitcoin b\u1ea5t ch\u1ea5p quy m\u00f4 c\u1ee7a Morgan Stanley."},"content":{"rendered":"<div data-module-name=\"article-header\" data-module-version=\"1.0.0\" data-module-instance=\"default\">\n<p><strong>Nhu c\u1ea7u m\u1ea1nh m\u1ebd ngay t\u1eeb giai \u0111o\u1ea1n \u0111\u1ea7u cho th\u1ea5y ch\u00ednh c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang th\u00fac \u0111\u1ea9y qu\u00e1 tr\u00ecnh ph\u1ed5 c\u1eadp crypto, ngay c\u1ea3 khi kh\u00f4ng c\u00f3 s\u1ef1 h\u1ed7 tr\u1ee3 t\u1eeb m\u1ea1ng l\u01b0\u1edbi c\u1ed1 v\u1ea5n t\u00e0i ch\u00ednh kh\u1ed5ng l\u1ed3 c\u1ee7a Morgan Stanley.<\/strong><\/p>\n<p>5 th\u00e1ng 5 n\u0103m 2026, 8:44 t\u1ed1i \u00b7 th\u1eddi gian \u0111\u1ecdc 2 ph\u00fat<\/p>\n<p><a href=\"https:\/\/www.google.com\/preferences\/source?q=coindesk.com\" target=\"_blank\" rel=\"noopener\">Make preferred on <\/a><\/p>\n<\/div>\n<div data-module-name=\"article-body\" data-module-version=\"1.0.0\" data-module-instance=\"default\">\n<p>Miami Beach, Florida \u2014 ETF spot Bitcoin m\u1edbi ra m\u1eaft c\u1ee7a Morgan Stanley mang m\u00e3 MSBT \u0111\u00e3 thu h\u00fat h\u01a1n 200 tri\u1ec7u USD nhu c\u1ea7u \u0111\u1ea7u t\u01b0 ban \u0111\u1ea7u, v\u00e0 ph\u1ea7n l\u1edbn d\u00f2ng ti\u1ec1n n\u00e0y \u0111\u1ebfn m\u00e0 g\u1ea7n nh\u01b0 kh\u00f4ng c\u1ea7n s\u1ef1 h\u1ed7 tr\u1ee3 t\u1eeb ch\u00ednh \u0111\u1ed9i ng\u0169 c\u1ed1 v\u1ea5n t\u00e0i ch\u00ednh c\u1ee7a ng\u00e2n h\u00e0ng.<\/p>\n<p>\u201cG\u1ea7n nh\u01b0 to\u00e0n b\u1ed9 ho\u1ea1t \u0111\u1ed9ng trong m\u1ed9t ho\u1eb7c hai tu\u1ea7n \u0111\u1ea7u \u0111\u1ec1u \u0111\u1ebfn t\u1eeb nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ef1 giao d\u1ecbch, ngh\u0129a l\u00e0 kh\u00f4ng ph\u1ea3i do c\u00e1c c\u1ed1 v\u1ea5n c\u1ee7a ch\u00fang t\u00f4i b\u00e1n s\u1ea3n ph\u1ea9m n\u00e0y,\u201d Amy Oldenburg \u2014 ng\u01b0\u1eddi v\u1eeba \u0111\u01b0\u1ee3c b\u1ed5 nhi\u1ec7m l\u00e0m Gi\u00e1m \u0111\u1ed1c t\u00e0i s\u1ea3n s\u1ed1 c\u1ee7a Morgan Stanley \u2014 cho bi\u1ebft trong bu\u1ed5i fireside chat t\u1ea1i Consensus Miami.<\/p>\n<p>Qu\u1ef9 ETF n\u00e0y m\u1edbi ch\u1ec9 ho\u1ea1t \u0111\u1ed9ng \u0111\u01b0\u1ee3c v\u00e0i tu\u1ea7n nh\u01b0ng \u0111\u00e3 nhanh ch\u00f3ng thu h\u00fat h\u01a1n 200 tri\u1ec7u USD t\u00e0i s\u1ea3n qu\u1ea3n l\u00fd \u2014 m\u1ed9t kh\u1edfi \u0111\u1ea7u \u0111\u01b0\u1ee3c xem l\u00e0 r\u1ea5t nhanh trong th\u1ecb tr\u01b0\u1eddng ETF truy\u1ec1n th\u1ed1ng, n\u01a1i ph\u1ea7n l\u1edbn c\u00e1c s\u1ea3n ph\u1ea9m m\u1edbi th\u01b0\u1eddng g\u1eb7p kh\u00f3 kh\u0103n trong vi\u1ec7c thu h\u00fat d\u00f2ng v\u1ed1n th\u1eddi gian \u0111\u1ea7u. Oldenburg cho bi\u1ebft ph\u1ea7n l\u1edbn d\u00f2ng ti\u1ec1n \u0111\u1ebfn t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n t\u1ef1 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n thay v\u00ec d\u1ef1a v\u00e0o c\u1ed1 v\u1ea5n t\u00e0i ch\u00ednh.<\/p>\n<p>Di\u1ec5n bi\u1ebfn n\u00e0y ph\u1ea3n \u00e1nh m\u1ed9t s\u1ef1 thay \u0111\u1ed5i l\u1edbn h\u01a1n tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/p>\n<p>Vi\u1ec7c ti\u1ebfp c\u1eadn crypto gi\u1edd \u0111\u00e2y kh\u00f4ng c\u00f2n b\u1ecb gi\u1edbi h\u1ea1n trong nh\u1eefng ng\u00e1ch \u0111\u1ea7u c\u01a1 nh\u1ecf l\u1ebb. Thay v\u00e0o \u0111\u00f3, nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1ed1n \u0111\u00e3 n\u1eafm gi\u1eef t\u00e0i s\u1ea3n s\u1ed1 tr\u1ef1c ti\u1ebfp hi\u1ec7n \u0111ang chuy\u1ec3n m\u1ed9t ph\u1ea7n v\u1ed1n sang c\u00e1c s\u1ea3n ph\u1ea9m \u0111\u01b0\u1ee3c qu\u1ea3n l\u00fd nh\u01b0 ETF.<\/p>\n<p>Oldenburg cho bi\u1ebft Morgan Stanley \u0111ang ch\u1ee9ng ki\u1ebfn \u201cr\u1ea5t nhi\u1ec1u ho\u1ea1t \u0111\u1ed9ng t\u1eeb c\u00e1c holder crypto spot mu\u1ed1n ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n v\u00e0o ETP\u201d, cho th\u1ea5y qu\u00e1 tr\u00ecnh chuy\u1ec3n d\u1ecbch t\u1eeb h\u00ecnh th\u1ee9c n\u1eafm gi\u1eef phi t\u1eadp trung sang c\u00e1c ph\u01b0\u01a1ng ti\u1ec7n \u0111\u1ea7u t\u01b0 truy\u1ec1n th\u1ed1ng h\u01a1n.<\/p>\n<h3>\u201cTh\u1ebf gi\u1edbi lai\u201d gi\u1eefa crypto v\u00e0 t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng<\/h3>\n<p>Tuy nhi\u00ean, Morgan Stanley kh\u00f4ng \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o ch\u1ec9 m\u1ed9t m\u00f4 h\u00ecnh duy nh\u1ea5t. Ng\u00e2n h\u00e0ng n\u00e0y c\u00f3 k\u1ebf ho\u1ea1ch h\u1ed7 tr\u1ee3 song song c\u1ea3 ETF l\u1eabn quy\u1ec1n s\u1edf h\u1eefu crypto tr\u1ef1c ti\u1ebfp, bao g\u1ed3m c\u1ea3 giao d\u1ecbch spot tr\u00ean n\u1ec1n t\u1ea3ng qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n c\u1ee7a h\u1ecd v\u00e0o cu\u1ed1i n\u0103m nay.<\/p>\n<p>\u201cCh\u00fang ta s\u1ebd s\u1ed1ng trong m\u1ed9t th\u1ebf gi\u1edbi hybrid trong th\u1eddi gian d\u00e0i, n\u01a1i ch\u00fang t\u00f4i h\u1ed7 tr\u1ee3 \u0111\u1ed3ng th\u1eddi c\u1ea3 m\u1ea3ng digital-native l\u1eabn m\u1ea3ng t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng,\u201d Oldenburg n\u00f3i.<\/p>\n<p>C\u00e1ch ti\u1ebfp c\u1eadn n\u00e0y ph\u1ea3n \u00e1nh th\u00e1ch th\u1ee9c th\u1ef1c t\u1ebf m\u00e0 c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh l\u1edbn \u0111ang \u0111\u1ed1i m\u1eb7t: kh\u00e1ch h\u00e0ng ng\u00e0y c\u00e0ng s\u1edf h\u1eefu c\u1ea3 c\u1ed5 phi\u1ebfu l\u1eabn crypto, th\u01b0\u1eddng n\u1eb1m tr\u00ean c\u00e1c h\u1ec7 th\u1ed1ng t\u00e1ch bi\u1ec7t nhau. Vi\u1ec7c \u0111\u01b0a to\u00e0n b\u1ed9 t\u00e0i s\u1ea3n v\u00e0o m\u1ed9t giao di\u1ec7n th\u1ed1ng nh\u1ea5t v\u1eabn \u0111ang trong qu\u00e1 tr\u00ecnh ho\u00e0n thi\u1ec7n.<\/p>\n<p>Ngo\u00e0i ETF, Oldenburg cho bi\u1ebft Morgan Stanley c\u0169ng \u0111ang nghi\u00ean c\u1ee9u c\u00e1ch t\u00e0i s\u1ea3n s\u1ed1 c\u00f3 th\u1ec3 t\u00e1i \u0111\u1ecbnh h\u00ecnh c\u1ea5u tr\u00fac th\u1ecb tr\u01b0\u1eddng r\u1ed9ng h\u01a1n, bao g\u1ed3m thanh to\u00e1n nhanh h\u01a1n v\u00e0 c\u00e1c s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh tokenized.<\/p>\n<p>\u201cCh\u00fang t\u00f4i kh\u00f4ng token h\u00f3a ch\u1ec9 v\u00ec mu\u1ed1n token h\u00f3a,\u201d b\u00e0 n\u00f3i. \u201cCu\u1ed1i c\u00f9ng, m\u1ee5c ti\u00eau l\u00e0 mang l\u1ea1i nhi\u1ec1u gi\u00e1 tr\u1ecb h\u01a1n v\u00e0 d\u1ecbch v\u1ee5 t\u1ed1t h\u01a1n cho kh\u00e1ch h\u00e0ng.\u201d<\/p>\n<p>Theo b\u00e0, \u0111\u00e2y l\u00e0 m\u1ed9t qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i d\u00e0i h\u1ea1n ch\u1ee9 kh\u00f4ng ph\u1ea3i xu h\u01b0\u1edbng ng\u1eafn h\u1ea1n.<br \/>\n\u201c\u0110\u00e2y kh\u00f4ng ph\u1ea3i d\u1ef1 \u00e1n c\u1ee7a n\u0103m 2026 hay 2027. \u0110\u00e2y l\u00e0 c\u00e2u chuy\u1ec7n c\u1ee7a c\u1ea3 th\u1eadp k\u1ef7 t\u1edbi.\u201d<\/p>\n<h3>Tuy\u00ean b\u1ed1 v\u1ec1 AI<\/h3>\n<p>M\u1ed9t s\u1ed1 ph\u1ea7n c\u1ee7a b\u00e0i vi\u1ebft n\u00e0y \u0111\u01b0\u1ee3c t\u1ea1o v\u1edbi s\u1ef1 h\u1ed7 tr\u1ee3 c\u1ee7a c\u00e1c c\u00f4ng c\u1ee5 AI v\u00e0 \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ed9i ng\u0169 bi\u00ean t\u1eadp ki\u1ec3m duy\u1ec7t nh\u1eb1m \u0111\u1ea3m b\u1ea3o t\u00ednh ch\u00ednh x\u00e1c c\u0169ng nh\u01b0 tu\u00e2n th\u1ee7 c\u00e1c ti\u00eau chu\u1ea9n n\u1ed9i dung. \u0110\u1ec3 bi\u1ebft th\u00eam th\u00f4ng tin, vui l\u00f2ng xem \u0111\u1ea7y \u0111\u1ee7 Ch\u00ednh s\u00e1ch AI c\u1ee7a CoinDesk.<\/p>\n<\/div>\n<div data-module-name=\"read-next\" data-module-version=\"1.0.0\" data-module-instance=\"default\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" src=\"http:\/\/www.coindesk.com\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2Fd00d58cb37e792985dd1a2d7a5b976dca32d84c0-720x406.jpg%3Fauto%3Dformat&amp;w=3840&amp;q=75\" alt=\"Strategy Executive Chairman Michael Saylor on CoinDesk Television \" width=\"1920\" height=\"1080\" data-nimg=\"1\" \/><\/figure>\n<p>Gi\u00e1 Bitcoin \u0111\u00e3 gi\u1ea3m t\u1eeb kho\u1ea3ng 87.000 USD xu\u1ed1ng 68.000 USD trong ba th\u00e1ng \u0111\u1ea7u n\u0103m 2026.<\/p>\n<h3>Nh\u1eefng \u0111i\u1ec1u c\u1ea7n bi\u1ebft:<\/h3>\n<ul>\n<li>Strategy (MSTR) b\u00e1o l\u1ed7 12,54 t\u1ef7 USD trong qu\u00fd 1 n\u0103m 2026.<\/li>\n<li>Kho\u1ea3n l\u1ed7 n\u00e0y xu\u1ea5t hi\u1ec7n trong b\u1ed1i c\u1ea3nh gi\u00e1 Bitcoin gi\u1ea3m t\u1eeb kho\u1ea3ng 87.000 USD xu\u1ed1ng c\u00f2n 68.000 USD trong su\u1ed1t qu\u00fd.<\/li>\n<li>Sau n\u0103m tu\u1ea7n b\u01b0\u1edbc sang qu\u00fd 2, Bitcoin \u0111\u00e3 ph\u1ee5c h\u1ed3i tr\u1edf l\u1ea1i tr\u00ean m\u1ed1c 80.000 USD, trong khi Strategy v\u1eabn ti\u1ebfp t\u1ee5c t\u00edch l\u0169y th\u00eam BTC \u1edf c\u00e1c v\u00f9ng gi\u00e1 th\u1ea5p h\u01a1n.<\/li>\n<\/ul>\n<p><a href=\"http:\/\/www.coindesk.com\/markets\/2026\/05\/05\/strategy-posts-usd12-54-billion-q1-loss-on-declining-bitcoin-price\">Read full story<\/a><\/p>\n<p><em>(\u0110\u1ecdc chi ti\u1ebft t\u1ea1i \u0111\u00e2y)<\/em><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Nhu c\u1ea7u m\u1ea1nh m\u1ebd ngay t\u1eeb giai \u0111o\u1ea1n \u0111\u1ea7u cho th\u1ea5y ch\u00ednh c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang th\u00fac \u0111\u1ea9y qu\u00e1 [&hellip;]<\/p>","protected":false},"author":5,"featured_media":77842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-77841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/77841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=77841"}],"version-history":[{"count":1,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/77841\/revisions"}],"predecessor-version":[{"id":78093,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/77841\/revisions\/78093"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/77842"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=77841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=77841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=77841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}