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Morgan Stanley Updates Ethereum and Solana ETF Filings with Staking Features, 0.14% Fee Rate
Bloomberg ETF analyst James Seyffart (@JSeyff) disclosed that Morgan Stanley has submitted the latest application filings for an Ethereum ETF (ticker: $MSSE) and a Solana ETF (ticker: $MSOL) to regulators, with management fees set at 0.14% for both, and both products will include staking (Staking) features; the official listing of the products is expected to be imminent.
Ethereum
Solana
Morgan Stanley Submits Updated Filings for Ethereum and Solana ETFs
Bloomberg ETF analyst James Seyffart stated on X that updated filings have been submitted for its Ethereum ETF and Solana ETF, with expected ticker symbols of MSSE and MSOL respectively, and a fee rate of 0.14%.
Ethereum
Solana
NVIDIA (NVDA): Multiple KOLs Bullish on NVLink Ecosystem Moat and Revenue Growth Expectations
According to monitoring by the BlockFlow KOL opinion aggregation platform, NVIDIA (NVDA) received bullish views from multiple KOLs. Among them, P Equity Research cited Morgan Stanley's expectations that NVIDIA's revenue growth rate will surpass the current high growth level, and the new cloud service model will bring recurring revenue streams, at the price of $203.53 at the time. Another viewpoint emphasized NVIDIA opening its ecosystem to third-party CPUs and custom chips through NVLink Fusion, consolidating its dominant position in network architecture, at the price of $210.96 at the time.
Bullish
Fusion
Kollect
Kollectiv
NVIDIA
ProtoKOLs
Yesterday, Bitcoin Spot ETFs recorded a net outflow of $425 million.
According to data from Trader T (@thepfund), Bitcoin spot ETFs saw a net outflow of $425 million yesterday, marking one of the larger single-day net outflows recently. Major Outflows: • $IBIT (BlackRock): Outflow of $185 million • $FBTC (Fidelity): Outflow of $246 million • $GBTC (Grayscale): Outflow of $53.06 million Major Inflows: • $BTC (Grayscale Mini): Inflow of $53.38 million • $HODL (VanEck): Inflow of $6.14 million Products under Bitwise, Ark, Invesco, Franklin, Valkyrie, Morgan Stanley, WisdomTree, etc. all recorded zero net flow for the day.
Ark
Ark
Bitcoin
Bitwise
Franklin
Grayscale
Morgan Stanley: NVIDIA does not lack fundamentals, lacks incremental capital
According to TechFlow Research, Morgan Stanley's July 13 roadshow feedback report points out that Nvidia's current biggest problem is not fundamentals, but the market capitalization size leading to a lack of incremental capital. Quarterly growth is 95% and management believes growth will accelerate; next year's free cash flow yield will exceed 5%, with over half potentially returned to shareholders, so value investors may become the new buying force. Morgan Stanley also focuses on Nvidia's NeoCloud financing support model, providing credit endorsement for cloud service providers in exchange for revenue sharing, creating a recurring revenue stream with 100% gross margin beyond hardware. Morgan Stanley maintains an Overweight rating on Nvidia with a target price of $288.
NVIDIA
Morgan Stanley: CPO Not That Fast, Copper Cables Can Last Two More Years
According to TechFlow Research, Morgan Stanley's July 13 report indicates that large-scale adoption of CPO in Scale-Up networks is expected in 2029 and beyond, with only small-scale introduction in 2028. Recent market concerns about CPO "delays" are excessive; the core reason is that CPO involves rebuilding the supply chain for packaging, optical engines, and lasers, and NVIDIA's Feynman generation is the timing anchor for CPO rollout. Copper cables can last another two years thanks to innovations such as PAM4 modulation, DSP, and retimers. The evolution of AI cluster scale from 72 GPUs to 576 or even 1152 is the core driver. 2026 marks the starting point of the non-NVIDIA Scale-Up ecosystem, with AMD MI400, Amazon Trainium 3, and Microsoft Maia starting mass production; Astera Labs and Broadcom become the initial major beneficiaries. Morgan Stanley maintains overweight ratings on NVIDIA, Broadcom, Astera Labs, and Keysight.
Copper
GPU.Net
Node AI
NVIDIA
Strategy Bitcoin Banking Adoption Index: Fidelity Leads at 71%, BNY and Goldman Sachs Rank Second and Third
Strategy's newly launched Bitcoin Banking Adoption Index shows Fidelity leading at 71%, followed by BNY at 46% in second place, and Goldman Sachs at 45% in third. JPMorgan, Morgan Stanley, and Citigroup each stand at 43%. The index evaluates the adoption of Bitcoin-related services across trading, custody, digital asset products, financing, and corporate participation among 25 major global institutions, with an overall adoption rate of 32%.The remaining institutions scored between 13% and 38%, with Wells Fargo at 38%, Banco Santander and Société Générale both at 35%, Charles Schwab and TD Bank both at 32%, BNP Paribas, HSBC, Crédit Agricole, and UBS each at 30%, Bank of America, Barclays, and Standard Chartered each at 28%, State Street at 27%, Mizuho and Deutsche Bank both at 22%, MUFG at 18%, Lloyd’s at 17%, and SMBC and Royal Bank of Canada both at 13% (Bitcoin.com News).
Bitcoin
Bitcoin.com
BNP Paribas
Strategy
Street
Morgan Stanley: AI Capex to Reach $1.4 Trillion in 2028
According to TechFlow Research, Morgan Stanley's July 10 report projects that in 2028, the combined capital expenditure of the five major hyperscalers—Microsoft, Google, Amazon, Meta, and SpaceX—will reach $1.4 trillion, a more than threefold increase from 2025 levels; available compute capacity will expand from 30GW to 120GW. Meta is listed as the top pick, with 2027/2028 Capex raised to $225 billion/$250 billion. Morgan Stanley particularly emphasizes Meta's API business opportunities: Muse Spark 1.1 pricing is 30%-86% lower than peers, and every 100MW of compute capacity can generate approximately $8 billion in revenue and approximately $1.9 per share in EPS increment. The deciding factor in the compute race is shifting from "how much to build" to "how much to sell," as Meta simultaneously holds five monetization paths. Morgan Stanley maintains an Overweight rating on Meta, Amazon, and Google.
Reach
Reach
Spark
Spark
JPMorgan: Software Profits Are Shifting from Model Layer to Infrastructure
According to TechFlow Research, a July 13 report from JPMorgan pointed out that Starbucks building its own AI tools to replace Microsoft and IBM software, Microsoft using its self-developed MAI to replace OpenAI and Anthropic models, and Meta developing cloud business to sell AI compute collectively illustrate a trend: the software profit pool is shifting downstream from the model layer. DigitalOcean's Q2 remaining performance obligations exceeded $800 million, a 10-fold year-over-year increase, with AI inference already accounting for a significant portion; over half of Cloudflare's requests originate from AI agents, and it launched a crawler paywall to open new revenue sources. Morgan Stanley believes model providers face pressure of being replaced, infrastructure layer demand remains strong but the structure is changing, enterprise customers' bargaining power is rising, and investment logic needs to shift from "model as winner" to "infrastructure and intermediary layers".
Shezhea NET
摩根大通
Wall Street investment banks’ second-quarter fee income expected to hit four-and-a-half year high, with SpaceX IPO as key catalyst
According to data compiled by Bloomberg, the five largest U.S. investment banks are expected to generate approximately $11.1 billion in investment banking fee income for the second quarter of 2026, a 27% increase year-on-year, marking the highest level since 2021. The growth is primarily driven by the SpaceX IPO and a resurgence in large M&A deals. The SpaceX IPO alone contributed approximately $500 million in fees to the 23 underwriting banks, setting a new record for the highest fees ever generated from a public offering. Goldman Sachs and Morgan Stanley each earned around $100 million from the deal.Additionally, M&A advisory fees for the five major banks are expected to rise approximately 30% year-over-year to over $4 billion. Market observers believe that future listing plans of major tech companies such as SpaceX, OpenAI, and Anthropic could further drive growth in Wall Street investment banking activities. (Financial Times)
Market
Street
Morgan Stanley: China's Rocket Recovery Debut Successful, SpaceX Faces Long-Term Threat
According to TechFlow Research, a Morgan Stanley report on July 10 pointed out that China's Long March 10B rocket completed its first orbital flight and successfully achieved sea recovery, becoming the third entity globally to master orbital-level rocket recovery technology, with the technical pathway now cleared. The Long March 10B is the reusable single-core version of the Long March 10 family, with a payload capacity of approximately 16 tons in reusable configuration. US Space Force officials estimated at the beginning of the year that China would need about 3.5 years to master rocket reuse technology, and this debut may accelerate this timeline.
Long
Rocket
Space
Bitcoin mining company TeraWulf plans to raise $3.5 billion to build a data center leased by Anthropic
According to Bloomberg, Bitcoin mining company TeraWulf plans to raise approximately $3.5 billion, led by Morgan Stanley, to expand its Justified Data data center campus located in Hawesville, Kentucky.
Bitcoin
TeraWulf
Yesterday, Bitcoin spot ETFs recorded a net outflow of $95.31 million
According to data from Trader T (@thepfund), Bitcoin spot ETFs recorded a net outflow of $95.31 million yesterday, with Fidelity (FBTC) recording an outflow of $63.25 million, Ark (ARKB) an outflow of $39.93 million, VanEck (HODL) an inflow of $5.36 million, Morgan Stanley (MSBT) an inflow of $2.17 million, and multiple ETFs including BlackRock (IBIT) recording zero flow for the day.
Ark
Ark
Bitcoin
IBIT
InfinityBit
Goldman Sachs, JPMorgan Tighten Prediction Market Trading Rules Amid Rising Insider Trading Concerns
amid growing insider trading concerns surrounding prediction markets, Goldman Sachs has prohibited its employees from trading prediction market contracts related to the bank's own events, elections, financial markets, macroeconomic data, and geopolitics. Financial institutions such as Morgan Stanley, JPMorgan Chase, and Bank of America are also formulating or updating relevant policies. Bank of America, in particular, has begun clarifying prohibited practices in prediction market trading to its employees.Previously, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice accused a Google employee of using non-public information to trade "Search of the Year" related contracts on Polymarket, profiting approximately $1.2 million. Legal experts note that the CFTC still lacks well-established case law in enforcing insider trading rules for prediction markets, and the wide variety of prediction market contracts further complicates regulatory oversight.Currently, Kalshi and Polymarket have respectively launched employment verification tools and collaborated with Chainalysis and Palantir to monitor suspicious trading activities. (CNBC)
Chainalysis
Insider
Kalshi
Market
Polymarket
摩根大通
Morgan Stanley: 2027 CoWoS Demand to Reach 2.69 Million Units, CPU Officially Joins Advanced Packaging Camp
According to TechFlow Research, Morgan Stanley's July 8 AI Supply Chain Report estimates that global CoWoS demand will reach 2.694 million units in 2027, a 93% increase from 2026. NVIDIA remains the largest customer (1.222 million units, accounting for 45%), while AMD demand will surge 308% (130,000 units → 530,000 units), with MI455 (1 million units) and MI450 (500,000 units) as the main drivers in 2027. The AMD Venice CPU will adopt CoWoS packaging for the first time, with 2027 shipments estimated at 6.75 million units; CoW production will be undertaken by ASE/SPIL, Amkor, and Powertech, marking the large-scale expansion of CoWoS from AI accelerators to server CPUs. Google TPU Sunfish full-year shipments are 960,000 units, concentrated in 4Q26. NVIDIA Blackwell inventory was clarified as a supply chain buffer to be fully absorbed within 2026, while Rubin 2027 shipments are near 7 million units.
Chain
NVIDIA
Reach
Reach
Venice
Legendary Investor Grantham Criticizes SpaceX: The Market is Chasing "The Most Outrageous Investment Story in History"
Jeremy Grantham, renowned investor, co-founder, and chief investment strategist at GMO, stated that the market might look back on the SpaceX listing in 50 years with a sense of "mockery," calling it "the most outrageous IPO in human history."Grantham believes that SpaceX’s grand vision of "making humanity a multi-planetary species," coupled with the market’s current strong enthusiasm for the company, could be viewed by investors in the future as excessive optimism. "Everyone is lining up to tell you to buy the most outrageous IPO in human history. 50 years from now, people will quote paragraphs from the prospectus and laugh about it," he said.Since SpaceX joined the Nasdaq-100, it has garnered significant institutional attention, but its stock price has faced pressure recently. Currently, SpaceX’s stock is down about 7% from its one-month high, hovering around $150, only slightly above its IPO target price of $135.Wall Street institutions are divided on SpaceX’s future valuation. Morgan Stanley reportedly has given it a $300 price target, while Goldman Sachs analysts estimate a target of around $205. JPMorgan Chase believes that Elon Musk’s goal of achieving $1 trillion in revenue by 2031 is "theoretically achievable" but would require extremely strong execution capabilities.Grantham also pointed out that one of SpaceX’s biggest risks is its heavy reliance on Musk’s personal leadership. He noted that Musk holds approximately 82% of the voting control, which serves as both a key driver of SpaceX’s culture and innovation capability, and a source of risk related to governance structure and leadership changes.However, Grantham acknowledged that SpaceX’s inclusion in the Nasdaq index could generate additional buying pressure. He said that as a large amount of funds tracking the Nasdaq index are forced to allocate to SpaceX stock, market demand may exceed supply, thereby pushing the stock price up.Nevertheless, he believes that in the long run, SpaceX still faces significant challenges. If the valuation logic for the company ultimately holds, the future world could undergo drastic changes driven by the development of artificial intelligence and automation technologies. Conversely, if expectations fail to materialize, this IPO would also become a landmark event in financial history. (Fortune)
Market
Street
SpaceX IPO Quiet Period Ends, Wall Street Firms Upgrades Ratings in Rapid Succession
as the 25-day quiet period following SpaceX's (SPCX) June IPO comes to an end, Wall Street analysts have begun releasing formal research reports. Multiple major brokerages have issued favorable ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a price target of $205, while Morgan Stanley analyst Adam Jonas gave a target of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial provided the most optimistic forecast; analyst Brian Gesuale initiated coverage of SpaceX with a "Strong Buy" rating and a price target as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."Analysis suggests that market optimism towards SpaceX is primarily based on its布局 (layout/foundation) in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a sustainable source of revenue and support future expansion of launch scale.As of March 31, 2026, SpaceX holds 18,712 Bitcoins. Wall Street believes that the concentrated coverage following the end of the IPO quiet period provides a window for institutional investors to conduct their first systematic assessment of SpaceX's valuation. The fact that nearly all major institutions simultaneously issued positive ratings is relatively rare for large-scale IPOs. (CoinDesk)
based
Brian
CoinDesk
June
Starlink
Street
Morgan Stanley: Short-Term Correction in Storage, But 2027 Earnings Still Expected to Grow 35%-40%
According to TechFlow Research, Morgan Stanley's July 6 Asia-Pacific Memory Technology Flash Note pointed out that memory is approaching the peak rate of change in year-over-year prices, inventory, and the breadth of earnings revisions; short-term stock prices may face pressure, but the AI-driven memory bull market is far from over, with industry profits expected to grow by 35% to 40% by 2027. Market concerns about compute surplus among top cloud vendors may be overinterpreted; the true direction depends on whether hyperscalers maintain capital expenditure during the Q2 earnings season. Stock prices were not revalued after the announcement of Long-Term Agreements, reflecting the market's memory of LTAs becoming inventory burdens during the pandemic; actual execution needs to be seen rather than the agreements themselves. Morgan Stanley suggests seeking opportunities in DRAM and traditional memory, avoiding module manufacturers. Samsung Electronics' Q2 operating profit is expected to be about 85 trillion won, SK Hynix about 65 trillion won, both in line with market expectations.
Long
Market
Memory
Pacific
Yesterday, Bitcoin spot ETFs recorded a net inflow of $266 million.
According to data from Trader T (@thepfund), Bitcoin spot ETFs recorded a total net inflow of $265.68 million yesterday. Among them, BlackRock's IBIT led with a net inflow of $209.39 million; Ark's ARKB had a net inflow of $32.98 million, Grayscale Bitcoin Mini Trust had a net inflow of $42.25 million, Morgan Stanley's MSBT had a net inflow of $10.96 million, Fidelity's FBTC had a net inflow of $9.71 million, and Bitwise's BITB had a net inflow of $4.84 million.
Ark
Ark
Bitcoin
Bitwise
Grayscale
IBIT
Morgan Stanley: Meta's Self-Built GPU Services Signal Supply Shortage, DRAM Shortage Extended to Early 2028
According to TechFlow Research, the Morgan Stanley Weekly Report reinterprets the true meaning of the May SIA data. Meta's development of internal cloud services appears on the surface to be business competition with AWS/Azure, but in essence is a forced move driven by GPU shortage. When the enterprises with the strongest self-build capabilities in the market are all scrambling for capacity, the market is already in a state of extreme scarcity.
Agentwood Studios
Extended
GPU.Net
Node AI