Morgan Stanley's upcoming spot Bitcoin ETF is projected to generate $160 billion in demand, according to Strategy CEO Phong Le. This estimate is based on Morgan Stanley Wealth Management's $8 trillion in assets under management (AUM) and a recommended 0-4% Bitcoin allocation. A 2% allocation would significantly surpass BlackRock's iShares Bitcoin ETF (IBIT), which currently leads with $55 billion in AUM. Morgan Stanley, which has primarily distributed third-party Bitcoin ETFs like BlackRock's IBIT, is now seeking to directly offer its own Bitcoin ETF. This move aims to capture both distribution and management fees. Despite the potential, some experts caution that the $160 billion demand projection may be optimistic, as actual allocations could be lower. Meanwhile, Bitcoin ETFs have experienced recent outflows amid macroeconomic uncertainties, with Bitcoin trading at $70,000.