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

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

NextBlock Fully Funds Soda Labs' Seed Round with $3 Million Investment

NextBlock has invested $3 million in Soda Labs, fully funding the company's seed round to develop privacy infrastructure for financial applications.

user avatarTomas Novak

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.