You can check the website statistics yourself or request them from us at [email protected]
On this platform, only organic high-quality traffic
Bitcoin
30,725

Morgan Stanley Considering Spot Bitcoin ETFs for Brokerage Platform: Report

Morgan Stanley is reportedly exploring the possibility of incorporating spot Bitcoin exchange-traded funds (ETFs) into its brokerage platform, with ongoing due diligence being conducted, as per a CoinDesk report citing two informed sources.

Following the approval of nearly a dozen products by the U.S. Securities and Exchange Commission in January, there has been a surge in interest surrounding spot Bitcoin ETFs.

The report from CoinDesk indicates that a source disclosed Morgan Stanley’s assessment of offering spot Bitcoin ETFs to its clients, particularly since the SEC’s approval of such products in January.

Bitcoin ETFs Gain Momentum

Since then, U.S. spot Bitcoin ETFs have experienced a surge in daily trading volume, reaching an all-time high of $7.7 billion. BlackRock’s IBIT has notably doubled its previous personal record for the third consecutive day, achieving a staggering $3.3 billion in trading volume. Fidelity’s spot Bitcoin ETF also achieved a notable milestone by doubling its previous trading volume record to $1.4 billion on the same day, as reported by Bloomberg analyst James Seyffart on X.

“$IBIT alone saw a record inflow of $612 million. In total, the group recorded a net inflow of $673 million, surpassing the day 1 record of $655 million. (still awaiting $BTCO),” Seyffart added.

BlackRock’s IBIT has now surpassed $9 billion in assets under management, Seyffart further noted on X.

Wall Street Banks Hungry for Crypto ETFs and ETPs

It’s evident that traditional financial institutions are delving deeper into the realm of cryptocurrency exploration. As highlighted in reports from 2021, entities like Goldman Sachs, ICAP, JPMorgan, and UBS were actively acquiring exchange-traded products (ETPs) providing exposure to cryptocurrencies for their clients, based on data reviewed from the Bloomberg terminal by CoinDesk.

Experiencing FOMO?

Major banks like Morgan Stanley appear to be succumbing to FOMO (fear of missing out) and are eager to partake in the burgeoning crypto market. The success observed by BlackRock with its Bitcoin product IBIT may be prompting a new wave of investment banks to consider entering the arena.

Spot Ethereum ETFs Next?

In the wake of the approval of spot Bitcoin ETFs, numerous investment firms are now seeking to capitalize on the growing demand by filing applications with the SEC to launch spot Ethereum ETFs.

Among those leading the charge are BlackRock, Fidelity, Grayscale, VanEck, Invesco, Franklin Templeton, Galaxy Digital, as well as Cathy Wood’s Ark Invest and 21Shares, all of whom have submitted applications for spot Ethereum ETFs.

Related Posts

Leave a Reply

Confirm now and stay with our news

What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

Latest Articles

S&P Global Ratings joins Singapore MAS’s Project Guardian
28.06.2024By
Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
28.06.2024By
Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target
28.06.2024By

Latest news

S&P Global Ratings joins Singapore MAS’s Project Guardian
28.06.2024
Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
28.06.2024
Steno Research Expects $15-20B Inflows into Ether Spot ETFs, Predicts $6,500 Price Target
28.06.2024
Bitcoin Mining Firm CleanSpark Acquires GRIID in $155M Stock Deal
28.06.2024
Elastos Partners With BEVM to Launch Bitcoin P2P Loans, Targeting $1.3T in Dormant Value
28.06.2024
Coinbase Files Lawsuits Against SEC, FDIC Over FOIA Request
27.06.2024
UK Watchdog Boosts Crypto Division to 100 Staff Members
27.06.2024
Hong Kong Government Explores DeFi and Metaverse to Boost Fintech Dominance
27.06.2024
Spot Ether ETFs May Receive US Approval by July 4: Report
27.06.2024
Bitcoin ETFs See Inflows for Second Consecutive Day as BTC Holds Steady at $60K
27.06.2024