Crypto Morning Brief April 9 | Morgan Stanley launches spot ETF | ️ Iran proposes BTC toll fees | BTC battles to reclaim $70K Today's key highlights: 1. Morgan Stanley brings real money to the game: The first-ever bank-backed Bitcoin spot ETF (MSBT) by Morgan Stanley debuted on the NYSE, attracting approximately $34 million on its first day with a low fee rate of 0.14%. Traditional giants continue to push compliant channels. 2. Geopolitics sparks 'crypto tariffs': Amid the volatile ceasefire situation in the Middle East, Iran has proposed requiring oil tankers passing through the Strait of Hormuz to pay toll fees in Bitcoin during the ceasefire period. This move has triggered a surge in short-term crypto asset hedging and settlement demand. 3. MicroStrategy calls the bottom and on-chain milestones: Michael Saylor publicly stated that Bitcoin may have hit its bottom and expressed optimism about the next bull market driven by digital credit. Meanwhile, the total supply of stablecoins on the Ethereum blockchain has surpassed $180 billion, signaling abundant liquidity in the ecosystem. 4. Fed vs. U.S. stocks divergence: Despite the major stock indices closing sharply higher, the Federal Reserve's meeting minutes revealed more officials discussing potential rate hikes. Macro liquidity expectations remain under pressure from both geopolitical tensions and inflation.