Why did Morgan Stanley's ETF choose $BTC BTC + $SOL $ETH instead of ETH?

Many people think this is a "technological route dispute,"
but Jeff Park puts it more bluntly:
👉 **This is a bet on "human nature."**🧵👇
1️⃣ #比特币 = Doomsday Asset
In Jeff Park's view, BTC has never been a "tech stock,"
but a systemic risk hedge tool.
When order collapses and trust disappears,
BTC is the last insurance.
2️⃣ #Solana = Meme and Gambling Proxy
SOL is not just a public chain,
it bets on something eternal:
👉 Humans are naturally gamblers.
Low latency + high frequency + meme narrative,
SOL has found the true PMF (Product-Market Fit).
3️⃣ The only problem with Ethereum: too awkward
Not "pure" enough to be digital gold,
nor "extreme" enough for high-frequency gambling.
Trying to be infrastructure, but carrying a financial asset shell.
The result is: neither side is satisfied.
⚠️ The truly underestimated is not the ETF itself,
but Morgan Stanley.
Jeff Park straightforwardly states:
It is a "sleeping giant" in the crypto space.
Not relying on traffic, not relying on hype,
but on top-tier wealth management + vertical distribution channels,
embedding crypto assets directly into clients' financial experience.
This path,
may even lead to a completely different ending than BlackRock.
📌 One sentence conclusion:
ETFs are not about choosing a chain,
but Wall Street re-pricing human nature.