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

user avatar

by Giorgi Kostiuk

2 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

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Blockchain.com and NYSE Join Forces to Launch Tokenized Trading Platform

Blockchain.com and the New York Stock Exchange have signed an agreement to develop a platform for trading tokenized US stocks and ETFs.

user avatarLeo van der Veen

Circle Launches StableFX for Onchain Foreign Exchange

Circle has launched StableFX, a service for institutions to exchange stablecoin-denominated currencies on its blockchain, Arc, enabling 24/7 currency exchanges and improving foreign exchange efficiency.

user avatarLi Weicheng

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.