As crypto usage and adoption accelerate throughout the globe, Morgan Stanley's investor questions shift from asking "what is Bitcoin" to trying to understand more about the broad universe of companies and services that form the digital asset space, Morgan Stanley Head of Crypto Research writes in a note to clients. It appears both retail and institutional interest in the digital asset market is growing as the global crypto market cap is now just under $2.7T vs. less than $500B in the same year-ago period, according to data from CoinMarketCap. The meat of the move comes primarily from Bitcoin (BTC-USD) and Ethereum (NYSEARCA:USD), with the two largest market caps in the crypto world, accounting for more than half of the global crypto market share. Specifically for institutional investors, it's "no longer just hedge funds that are participating via futures; long-term asset managers and pension funds are now starting to question what
