Bitcoin Tops $80k on Morgan Stanley ETF, BlackRock ETP Surge
Bitcoin (BTC) price topped $80 over robust transatlantic institutional appetite and strong initial demand from self-directed investors, highlighting growing wealth-management interest.
Capital continues to gravitate toward the crypto market, with Bitcoin maintaining its appeal, fueling its market dominance.
BTC trading volume jumped 175% over 24 hours to $47 billion, amid reports that BlackRock’s European iShares Bitcoin ETP (IB1T) has surpassed $1.1 billion in assets under management, holding approximately 14,200 BTC as of May 4, 2026.
BlackRock’s European iShares Bitcoin ETP (ticker: IB1T) is a physically backed, regulated exchange-traded product aimed at providing investors with exposure to Bitcoin was launched in March 2025.
It provides regulated exposure for European institutional investors under the EU’s MiCA framework. The demand surge is bullish for Bitcoin because it demonstrates that institutional demand is a global, structural trend, not reliant solely on U.S. ETF mechanics.
Crypto analysts said it adds a significant, steady buyer to the market, supporting price discovery and liquidity. In addition, Morgan Stanley’s bitcoin exchange-traded product (MSBT) attracted over $100 million in its first week, with all capital coming from self-directed investor accounts before being offered through advisory services.
This is neutral-to-bullish for Bitcoin. It reveals strong underlying demand from affluent investors, but the slow adoption by financial advisors indicates educational and regulatory hurdles remain before full-scale institutional integration.
Bitcoin’s price target has increased despite a series of failed attempts to break the resistance. Legendary trader Peter Brandt projects that Bitcoin could reach $250,000 by late 2029 based on halving-cycle analysis.
However, he warns the market may consolidate between $47,000 and $80,000 until September or October 2026. This presents a balanced view.
The long-term target reinforces the store-of-value narrative, but the near-term warning suggests traders should prepare for potential volatility and a prolonged period of range-bound price action. PayPal Stablecoin Hits $3.4bn on Surging Transactions Volume
