Jeff Park

So I think Solana in some ways represents that Wall Street ethos because it's about tech maximization.

The rails Solana's built has been done with the DNA of a high-frequency trader.

If you look at a lot of the projects that came out of Solana originally, they're the things that the jumps and the Jane Street types would have backed because you're trying to create a better trading infrastructure.

That's a Wall Street game.

I think Solana has a product market fit, Bitcoin does too.

I think Morgan Stanley, in a slightly soft way, is almost making that claim as well because it should have been obvious Ethereum should have been on that list if they felt any differently about it.

That was the first thing that caught my eye.

The second thing is, man, I think Morgan Stanley is a sleeping giant for crypto.

I've said this for a while now.

They have all the vertical rails to make crypto as integrated as possible for the consumer experience.

First of all, they have wealth management that is now, I think, close to 15,000, 20,000 advisors on their platform.

A giant beast post-2008 when James Gorman came in and reshaped Morgan Stanley away from the Goldman model.

And that is now almost 20 years ago.

So we're reaping the dividends of that.

Two, it has E-Trade.

which sometimes people forget, like E-Trade is now part of Morgan Stanley's direct like retail reach.

And then you have E-Trade offering crypto trading via partnership with Zerohash.

So they've done things towards a lens towards tokenization and tokenized equities.

And now they're bringing basically the ETF game into the system.

I was told that it's very rare for Morgan Stanley to launch its own branded ETFs because they've acquired others in the past, like in advance is a good example, but they don't label it as Morgan Stanley products.