Outside the Fontainebleau Hotel in Miami, Florida last week, dozens of drones moved slowly through the night sky, projecting the Bitcoin symbol far and wide above one of the largest ETF gatherings of the year.

Even as stocks rallied back during the monetary panic last week, big disruptions in the world of Treasuries threaten fresh pain for a host of hedging strategies on Wall Street.

Almost three decades after coining the term “exchange-traded fund,” Morgan Stanley is finally set to enter the $6.9 trillion ETF arena with its own products.