Morgan Stanley aims to outpace UBS in becoming the first Bitcoin ETF bank

user avatar

by Giorgi Kostiuk

3 years ago

Made with AI

The rivalry between investment banks over the introduction of spot Bitcoin exchange-traded funds (ETF) in the United States has intensified. According to crypto enthusiast Andrew P. (AP Abacus), Morgan Stanley is striving to beat UBS in becoming the premier wirehouse to fully endorse the Bitcoin ETF. Internal notes from Morgan Stanley suggest that an announcement regarding Bitcoin ETFs may be imminent. Global banks are engaging in active discussions regarding the inclusion of Bitcoin ETFs, turning it into a competitive race. ETF expert Eric Balchunas highlighted that both Morgan Stanley and UBS have yet to add Bitcoin ETFs. Balchunas suggested that the two banks are engaged in a compliance game of chicken, waiting for one to make the first move. AP Abacus previously reported that UBS plans to introduce Bitcoin ETFs to its platform in the near future. Morgan Stanley's potential approval of Bitcoin ETFs has also been a subject of speculation recently. Both banks were contacted for comments, but no responses were received. This is an evolving narrative, and additional updates will be provided.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.